India: SAIL BSP's defective steel auction sees rise in bid prices by INR 1,000/t ($14/t)

Steel Authority of India Limited (SAIL) conducted an auction from its Chhattisgarh-based Bhilai Steel Plant (BSP) for defective steel products on 25 Aug'21. Bid prices for steel blooms increased by INR 1,000/tonne (t) ($14/t) against the previous auction conducted on 17 Aug'21.

Around 12,855 t of defective steel were put up for auction, of which 88.86% of the material, equivalent to 11,423 t got sold.

SteelMint's daily billet index was assessed at INR 42,200/t exw-Raipur, on 25 Aug'21, lower by INR 1,500/t against last assessment on 17 Aug'21. The index continued trending down on account of lower bids and limited demand owing to prevailing sluggish market.

Highlights:

Quantity in t
Price in INR/t on exw-Bhilai basis

For complete details of all other products, please click here->BSP auction summary