State-owned leading long steel producer Vizag Steel has scheduled an e-auction for 900 t of steel billet (125X125mm) — which is secondary steel, or defective material in tender parlance — for 16 Jun’21. Vizag Steel recorded 4.3 mn t of crude steel production in FY’21 – a fall of 9% compared to the previous fiscal. The offers for IF grade billet remain volatile, and are currently hovering at INR 44,000/t, exw Hyderabad, for 100*100mm material, as assessed by SteelMint.
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