Steel Authority of India Ltd (SAIL)- Indian state owned steel maker had scheduled pig iron auction today (18th Sept) for sale about 9,100 MT Steel grade Pig iron from its Rourkela Steel Plant (RSP).
As per participants report to SteelMint, the auction got mixed response and near about 47% (4,300 MT) quantity remained unsold in the auction.
The company quoted base prices for the pig iron auction at about INR 30,660/MT and the tender fetched highest bid at around INR 31,000/MT. On an average 4,800 MT has been sold in this auction, while remaining 4,300 MT remained unsold.
As per participants around 1,200 MT pig iron was sold at the base price of INR 30,660/MT, while near about 3,600 MT fetched bid around INR 31,000/MT, ex-plant Rourkela, Odisha.
Earlier the company had received quite good response in the floated auctions, however in current auction limited participation was reported. As per industry experts the key factor behind this is higher base price as they NINL offers was quite competitive which hover at INR 29,500-29,900/MT ex-plant, Cuttack, Odisha.
Hence the smelters & stockiest who have already booked decent quantities of low price pig iron from NINL, resulting in limited interest for high cost RSP Pig iron.
Prior to this, RSP’s last tender was held on 5th Sept for about 3,200 MT pig iron and the tender was concluded at around INR 30,700-30,900/MT, ex-plant, Rourkela.
RSP’s hot metal production spikes 20% in April-August
Rourkela Steel Plant (RSP) an integrated Steel Plant of the Maharatna Company SAIL has registered its best ever production performance on all major fronts like Hot Metal, Crude Steel and Saleable Steel in the first five months (April-August) of the current financial year 2018-19.
The Steel Plant produced 15,84,901 MT of Hot Metal, 14,90,936 MT of Crude Steel and 13,27,407 MT of Saleable Steel during the April-August period which are not only the highest-ever figures since inception but also an increase of 20.3%, 17.7 per cent and 12.8 per cent respectively over the Corresponding Period of Last Year (CPLY).
The total Sinter production was the best ever at 2534214 MT, which is 18.5% higher than CPLY. The New Plate Mill too recorded its all-time best performance for the April-August period by rolling 3,33,920 MT of plates, which is a rise of 18.1% over last year.
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