SteelMint: SAIL-BSP sells over 134,000 t of rails at auctions in FY’22

SAIL-BSP sold 134,600 t of 60kg (9-13m) commercial rails via auctions in FY’22. Almost all the auctions held garnered active response from participants, with the highest volume of 26,500 t being sold in Jan at an average bid price of INR 40,383/t exw. Bid prices in March reached the peak at INR 55,350/t exw, largely supported by higher scrap prices and the rally in sponge iron and coal prices.