India: SAIL Auction for Defective Billet and Blooms Observe Limited Participation On High Base Price
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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 12 Feb'20.
Nearly 945 MT defective billets were put up for auction, but only single lot fetched participation due to high base price at INR 29,450/MT EXW Bhilai. In the previous auction conducted on 04 Feb'20 total quantity of billet 1206.8 MT was booked at INR 29,450/MT.
In this auction,13,295 MT of CC Blooms were put up for sale, out of which 5,485 MT got booked at INR 24,750/MT EXW Bhilai.
SteelMint's assessment for Raipur billet has come down by INR 700-800/MT W-o-W amid limited trades .
The total quantity put up for auction was 32,483.15 MT, out of which 9,276.3 MT (28%) material was sold and rest 23,206.85 MT remained unsold.
Details of lots in SAIL BSP defective steel auction held on 12 Feb'20
| Description | Sold Quantity | Offered Quantity | Bid Price |
| Plate Cutting Cat-I | 0 | 120 | 0 |
| Plate Cutting Cat-A | 0 | 1165.55 | 0 |
| Plate Cutting Cat-B (8-20 MM) | 0 | 863.4 | 0 |
| PM end Shearing Cat-I | 0 | 1490 | 0 |
| Merchant Mill Cutting | 87.25 | 2500.4 | 32900 |
| TMT Bar Defective | 336 | 621 | 29000 |
| MM Cobble | 0 | 133 | 0 |
| Wire Rod Cutting | 0 | 798 | 0 |
| WR Coil Def. | 86 | 368.2 | 32950 |
| Rail Cutting | 0 | 1200 | 0 |
| Rails Def./Rej R-52 | 100 | 100 | 27100 |
| Rails Def./Rej R-60 | 1304.35 | 5084.65 | 25950-26000 |
| Billet Def/Rej (Above 110) | 251.35 | 251.35 | 28350 |
| Billet Def/Rej(Upto 110) | 120.4 | 944.7 | 29450 |
| Bloom CC Def/Rej | 5485.25 | 13294.8 | 24750 |
| Bloom RL Def/Rej | 1480.7 | 2032.5 | 25200-25550 |
| Slab CC Def/Rej. | 0 | 816.6 | 0 |
| Steel Scrap OCC. Skull | 0 | 100 | 0 |
| Steel Scrap OH Grade. | 0 | 200 | 0 |
| Tundish Steel Skull Scrap | 0 | 149 | 0 |
| Wear Scrap | 0 | 150 | 0 |
| Turning and Boring from RTS | 25 | 50 | 28000 |
| MS Turning and Boring | 0 | 50 | 0 |
| Grand Total | 9276.3 | 32483.15 |
Quantity in MT
Bid Prices in INR/MT in EXW basis
Source: SteelMint Research
