India: SAIL Auction for Defective Billets Fetches Flat Bids; Entire Quantity Booked
...
Steel Authority of India Limited (SAIL), conducted auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 11 Dec'19.
Out of 58,208.8 MT steel put up for auction, 13,697.25MT (23 %) material was sold and 44,511.56 MT remained unsold.
The bids of billet (upto 110) were assessed at INR 25,500-25,700/ MT(EXW-Bhilai), Bids remained stable against average price fetched in last e-auction conducted on 3rd Dec .
Spot billet prices in Raipur have remained range bound since beginning of this month. SteelMint's billet assessment rebounded to INR 26,200-26,300/MT ex-plant Raipur,yesterday after falling to INR 26,000/MT on 09 Dec'19.
In this auction entire quantity (of Plates, Merchant mill, TMT Bar, Wire Rod, Billet, Slab) got booked.
| Product | Sold Quantity | Unsold Quantity | Bid Prices | Grand Total |
| PLATE CUTTING CAT I | 50 | 0 | 27050 | 50 |
| PLATE CUTTING CAT-A | 300.85 | 0 | 29500-29650 | 300.85 |
| PLATE CUTTING CATEGORY B (8-20 MM) | 183.9 | 0 | 29650 | 183.9 |
| PM END SHEARING CAT I | 627 | 0 | 24750-25200 | 627 |
| MERCHANT MILL CUTTINGS | 795.4 | 0 | 25350-30250 | 795.4 |
| TMT BAR DEFECTIVE | 544 | 0 | 25700-25850 | 544 |
| MM COBBLE | 0 | 60 | 0 | 60 |
| WIRE ROD CUTTING | 562 | 0 | 25250-25300 | 562 |
| WR COIL DEF | 151.95 | 200.15 | 22800-30150 | 352.1 |
| WRM TRIMMING AND CUTTING | 0 | 25 | 0 | 25 |
| RAIL CUTTING | 1200 | 2137 | 22600 | 3337 |
| RAILS DEF/REJ R-52 | 100 | 0 | 25950 | 100 |
| RAILS DEF/REJ R-60 | 1386.1 | 4067.7 | 22950-23000 | 5453.8 |
| BILLET DEF/REJ (ABOVE 110) | 102.15 | 0 | 24200 | 102.15 |
| BILLET DEF/REJ (UPTO 110) | 1424.3 | 0 | 25500-25700 | 1424.3 |
| BLOOM CC DEF/REJ | 5116.6 | 27690.61 | 22100 | 32807.21 |
| BLOOM RL DEF/REJ | 0 | 9595.1 | 0 | 9595.1 |
| SLAB CC DEF/REJ | 728 | 0 | 23050 | 728 |
| STEEL SCRAP 0-80 | 200 | 0 | 9900 | 200 |
| STEEL SCRAP OH GRADE | 200 | 200 | 15000 | 400 |
| TUNDISH STEEL SKULL SCRAP | 0 | 149 | 0 | 149 |
| Wear Scrap | 0 | 162 | 0 | 162 |
| NONUSABLE LOW GR STEEL MELTING | 0 | 200 | 0 | 200 |
| TURNING AND BORING FROM RTS | 0 | 25 | 0 | 25 |
| MS TURNING AND BORING | 25 | 0 | 19300 | 25 |
| Grand Total | 13697.25 | 44511.56 | 58208.81 |
Quantity in MT
Bid Prices in INR/MT on EXW Bhilai basis
Source: SteelMint Research
