India: Bids fall by INR 1,800 t in SAIL-BSP's recently-held defective steel auction

Steel Authority of India Limited's conducted an auction at its Central India based Bhilai Steel Plant for defective steel products on 04 Feb '21. The auction received a lukewarm response with fall in bid prices compared to the last auction conducted on 27 Jan '21.

23,372 t defective steel was put up for auction, out of which 10,746 t (45.98%) was sold and 12,896 t remained unsold. In the previous auction held on 27 Jan '21, the share of total sold quantity was around (58.28%).

SteelMint's billet (IF grade) index was recorded at INR 32,700/t exw Raipur on 04 Feb'21, down by INR 2,750/t w-o-w due to a decline in finish long steel prices in the secondary market.

Highlights of the auction are as follows:

Quantity in t
Price in INR/t on EXW basis

For approved price list please click here BSP auction summary