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India: SAIL BSP Extends the Due Date for Secondary Steel Auction

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BigMint Bureau

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27 Mar 2020, 12:48 IST

India: SAIL BSP Extends the Due Date for Secondary Steel Auction

Steel Authority of India Limited (SAIL) had scheduled an auction from its central India based Bhilai Steel Plant (BSP) for defective steel products today (i.e. on 27 Mar'20).

Plant management has taken a decision to cancel all the scheduled auctions till 14 April,20 due to lockdown imposed amid COVID-19 issue, SteelMint learned from its reliable sources.

Thus today's auction also stands cancelled. Due to lack of manpower and logistics constraints, spot steel trades in the secondary market have nearly come to a halt.