Date: 29 July 2019 , 16:57
News ID: 5554
NEWS SERVICE: IRON and STEEL

India: Bids in SAIL Defective Billet Auction Fall Upto INR 500/MT (USD 7)

Steel Authority of India Limited (SAIL), conducted auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 24th Jul'19.
India: Bids in SAIL Defective Billet Auction Fall Upto INR 500/MT (USD 7)

Out of 45,257.53 MT steel put up for auction, only 5,007.4 MT (11%) material was sold out which is also lower by 54% as against last auction considering equivalent quantity.

The base prices of billets for this auction by SAIL (BSP) was kept at INR 26,050-26,300/MT, which is down by INR 400-500/MT compared to previous auction held on 13th Jul'19 in which average base price was at INR 26,750/MT; ex-plant, Bhilai.

However only merchant mill product managed to get concluded by 100% in previous auction as major buyers was notified merchant re-rollers due to high grade advantage as the material was blast furnace grade.

source: SteelMint
India SAIL Billet BSP Steel
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