Steel Authority of India Limited (SAIL), conducted auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 29 Aug’19.
Out of 52,082 MT steel put up for auction in which 17,711 MT (34.1 %) material was sold out and 34,371 MT was left unsold. The base prices of Rails for this auction by SAIL (BSP) was kept at INR 23,060-23,210/MT, which is down by INR 50/MT compared to the previous auction held on 19th Aug’19.
In this auction entire quantity (of billet, slab, MM Cobble & Rebar) got booked. In this auction base price of Billet was kept at INR 24,710-25,510/ MT, which is up by INR 450-1,300/MT compared to the previous auction held on 19 Aug’19.
Auction Result:
| PRODUCT | SOLD | UNSOLD | BID RANGE/MT | Grand Total |
| BILLET | 2706 | 24,710-25,510 | 2706 | |
| BLOOM | 1365.4 | 30155.96 | 23,060 | 31521.36 |
| MM COBBLE | 513 | 23,060-23,810 | 513 | |
| PLATE | 1398.7 | 50 | 31,050-35,050 | 1448.7 |
| RAIL | 6600 | 1801.95 | 23,060-23,210 | 8401.95 |
| SCRAP | 2147.76 | 1313.62 | 10,950-27,600 | 3461.38 |
| SLAB | 1221.65 | 23,060-23,660 | 1221.65 | |
| TMT BAR | 536 | 25,250-25,850 | 536 | |
| WIRE ROD | 1222.75 | 1049.95 | 23,060-26,200 | 2272.7 |
| Grand Total | 17711.26 | 34371.48 | 52082.74 |
Quantity in MT
Bid Prices in INR/MT
Source: SteelMint Research
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