India: Bids in SAIL Auction for Defective Billets Increase on Active Participation
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Steel Authority of India Limited (SAIL), conducted auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 07th Jan'20.
Nearly 1,218.35 MT defective billets were put up for auction out of which entire quantity got booked. The bids of billet (up to 110) were assessed at INR 30,150-31,050/MT (EXW-Bhilai), which is on an average INR 1,650/MT higher than the previous auction conducted on 28h Dec'19.
Hike in bids was in line with a recent increase in spot steel prices SteelMint's assessment of Raipur billet increased by INR 500/MT in a week's time.
Also in recent auction entire quantity (16,195.95 MT) of CC and RL-Blooms got booked at INR.24,610-26,110/MT which is INR 1,810-2,460/MT higher than the previous auction.
Out of 28,096.95 MT total quantity of steel put up for auction 26,016MT (92.5%), the material was sold.
In this auction entire quantity (of TMT Bar, Rails, Billet, Blooms & Slab) got booked.
| Products | Sold Quantity | Bid Price | Offered Quantity |
| Plate Cutting CAT1 | 49 | 30950 | 49 |
| Plate Cutting CAT II | 170 | 28900 | 170 |
| Plate Cutting CAT-A | 0 | 0 | 749.8 |
| Plate Cutting CAT B (8-20 MM) | 0 | 0 | 223.95 |
| Plate Cutting CAT B (>20 - 40 MM) | 0 | 0 | 232.05 |
| Pm End Shearing CAT I | 702 | 28650-28900 | 702 |
| Merchant Mill Cuttings | 1510.2 | 28650-32400 | 1758.4 |
| TMT Bar Defective | 303 | 29160-29260 | 303 |
| MM Cobble | 80 | 28570 | 80 |
| Wire Rod Cutting | 274 | 29000 | 359 |
| WR Coil DEF | 65.05 | 25700 | 65.05 |
| Rail Cutting | 650 | 26010-26310 | 650 |
| Rail DEF/REJ R-60 | 3677.15 | 26010-26660 | 3677.15 |
| Billet DEF/REJ (ABOVE 110) | 395.65 | 29300-29700 | 395.65 |
| Billet DEF/REJ (UPTO 110) | 822.7 | 30150-31000 | 822.7 |
| Bloom CC DEF/REJ | 10864.6 | 24950-25660 | 10864.6 |
| Bloom RL DEF/REJ | 5331.35 | 24610-26110 | 5331.35 |
| SlabCC DEF/REJ | 897.25 | 26910 | 897.25 |
| Steel scrap OH grade | 200 | 16100-17950 | 430 |
| Tundish Steel Skull scrap | 0 | 0 | 149 |
| Wear Scrap | 0 | 0 | 162 |
| MS Turning and Boring | 25 | 22350 | 25 |
| Grand Total | 26,046.95 | 28,096.95 |
Quantity in MT
Bid Prices in INR/MT on EXW Bhilai basis
Source: SteelMint Research
