India: Bids in SAIL's auction of defective steel rise by INR 200/t

Steel Authority of India Limited conducted an auction from its central India based Bhilai Steel Plant for defective steel products on 14 Oct'20. The auction noticed increased in bid prices compared to the last auction conducted on 03 Oct'20. Domestic billet prices in Raipur increased early this week owing to improved buying inquiries.

A total quantity of 25,293t defective steel was put up for auction, out of which 23,058t (91.24%) was sold and 2,215 t remained unsold.In previous auction held on 03 Oct'20, share of total sold quantity was around (74.61%).

Highlights of the auction are as follows:

Quantity in t
Price in INR/t on EXW basis

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