India: SAIL Auction for Defective Billets Receives Active Participation; Entire Quantity Booked
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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 28 Dec'19.
Nearly 1,205.35MT 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 28,850-29,050/MT (EXW-Bhilai), which is INR 1,600-1,800/MT higher than the previous auction conducted on 20th Dec'19. Hike in bids was in line with recent increase in spot steel prices owing to increase in sponge offers. SteelMint's assessment of billet in Raipur increased by INR 500-600/MT in a week's time.
In this auction entire quantity (21,438.96 MT) of CC-Blooms got booked at INR 22,800-23,650/MT.Out of 38,923.66MT total quantity of steel put up for auction 33,002.06MT (84.78%) material was sold and 5921.6MT remained unsold.
In this auction entire quantity (of TMT Bar, Wire Rod, Billet, Bloom-CC &Slab) got booked.
| Product | Sold Quantity | Unsold Quantity | Bid Price | Grand Total |
| PLATE CUTTING CAT II | 0 | 170 | 0 | 170 |
| PLATE CUTTING CAT-A | 267 | 0 | 32130-32700 | 267 |
| PLATE CUTTING CATEGORY B(> 20 - 40 MM) | 100.55 | 0 | 34400 | 100.55 |
| PM END SHEARING CAT I | 106 | 565 | 27900 | 671 |
| MERCHANT MILL CUTTINGS | 169.5 | 650.15 | 30500-33500 | 819.65 |
| TMT BAR DEFECTIVE | 345 | 0 | 28650 | 345 |
| WIRE ROD CUTTING | 306 | 0 | 28050-28500 | 306 |
| WR COIL DEF | 197.65 | 0 | 24550-25700 | 197.65 |
| WRM TRIMMING AND CUTTING | 25 | 0 | 22300 | 25 |
| RAIL CUTTING | 200 | 0 | 24600 | 200 |
| RAILS DEF/REJ R-60 | 4597.4 | 0 | 24500-24800 | 4597.4 |
| BILLET DEF/REJ (ABOVE 110) | 0 | 276.65 | 0 | 276.65 |
| BILLET DEF/REJ (UPTO 110) | 1205.35 | 0 | 28850-29050 | 1205.35 |
| BLOOM CC DEF/REJ | 21438.96 | 0 | 22800-23650 | 21438.96 |
| BLOOM RL DEF/REJ | 3585.4 | 3723.8 | 23400-25550 | 7309.2 |
| SLAB CC DEF/REJ | 187.25 | 0 | 26400 | 187.25 |
| STEEL SCRAP OH GRADE | 200 | 200 | 15850 | 400 |
| TUNDISH STEEL SKULL SCRAP | 0 | 149 | 0 | 149 |
| Wear Scrap | 0 | 162 | 0 | 162 |
| TURNING AND BORING FROM RTS | 46 | 0 | 26650 | 46 |
| MS TURNING AND BORING | 25 | 25 | 21350 | 50 |
| Grand Total | 33002.06 | 5921.6 | 38923.66 |
