PSU steelmaker Steel Authority of India Ltd (SAIL) conducted an auction on 8 Sept’21 for 17,800 t (60 kg and 52kg, full length) commercial rails from the Bhilai Steel Plant (BSP) in Chhattisgarh. Out of the total quantity offered, buyers booked only a single lot (200 t) of 60 kg rails at the base price of INR 41,000/t exw. The starting price for 52 kg rails was INR 46,500/t but it was unable to attract buyers, with the auction closing without a single bid.
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