SAIL Concludes 7,000 MT Plate Export Tender for Europe- Sources

Steel Authority of India Limited’s (SAIL) global export tender for 7,000 MT prime mild steel hot rolled plates for late Feb shipment, has been concluded, according to trade sources. This tender was closed on 19th Jan 2018, with a price validity till 29th Jan 2018.

The tender was put up for the offer from Rourkela Steel plant having specifications – EN10025 S235/S275 JR(BASE GRADE+CE) for Europe.

As per sources, tender was concluded at around $590/t FOB India for base grade and size (12-40mm), which is equivalent to $625/t CFR Europe.

It may be noted that SAIL charges premium related to technical requirements and specifications.High tensile plates are costlier than mild steel by around USD 35-40/MT.

Europe has imposed anti dumping duty on imports of HR plates of Chinese origin.In order to provide relief to domestic EU companies, European Commission imposed duties ranging between 65.1% and 73.7% for heavy plates.

This proves to be the opportunity for the Indian mills to export plates to European nations and gain good realizations in global market. Also recently European currency – Euro has appreciated in last few months making imports cost effective.