SAIL has recently concluded billet export tender at around USD 10/MT higher than previous tender concluded by Vizag Steel.
Steel Authority of India – a government of India company had floated export tender for 13,500 MT billet from its Durgapur Steel plant. The due date for bid submission was 14 Mar’18 for which material shipping is scheduled within 30 Apr’18.
The tender put up for Prime Mild Steel Non-Alloy Concast billets (125*125mm) offered from Durgapur Steel plant has following specifications – C-0.27-0.32%, Mn-0.7-0.9%, S-0.05% max, P-0.05% max and Si – 0.15-0.35%. The length of the billets is 9-12 metres.
According to market sources report to SteelMint, the company has concluded the tender at around USD 540-545/MT, FoB Haldia port. The cargo is likely to be shipped to South East Asian nations.
The price at which the tender has been concluded is higher by USD 10/MT compared to the weighted average price in the previous tender concluded by Vizag Steel for 40,000 MT billet/bloom.
Last week, Vizag Steel (RINL ) had concluded the export tender for 150*150mm at around USD 515-520/MT, FoB India, 75*75mm billet around USD 520-525/MT, FoB and 65*65mm at around USD 535/MT, FoB. The weighted average price for the tender would come around USD 530/MT. Thus, the recent tender has fetched bids higher by USD 10/MT.
Global Billet Market Overview:
1. Billet export offers from CIS nations are assessed at USD 540-550/MT, FoB Black Sea.
2. Indian domestic billet prices are assessed at INR 34,500-34,700/MT (ex-Mumbai, for 125*125mm GST @ 18% extra).
3. Domestic spot billet (150*150mm) prices in Tangshan, China are around RMB 3,660/MT, 17% VAT included unchanged against last week’s closing.
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