Steel Authority of India – a government of India company had floated export tenders for 10,800 MT billet from its Durgapur Steel plant. The tender put up for Prime Mild Steel Non-Alloy Concast billets (125*125mm, 4 SP) offered from Durgapur Steel plant has following specifications – C-0.17-0.23%, Mn-0.6-0.9%, S-0.05% max, P-0.05% max and Si – 0.15-0.35%.
The cargo was to be shipped from Haldia port and the material shipping is scheduled within 31 May’18. The bid due date was 16 Apr’18, however the bid validity was till 18 Apr’18.
According to market sources report to SteelMint, the company has cancelled the tender owing to lower bid received than company’s expectation. As per sources, the company fetched bids around USD 520/MT, FoB.
Current prices fetched in Nepal market is presently more attractive than other markets, which might have been a reason behind tender getting cancelled. According to trade sources, induction grade billet export offers to Nepal are heard at USD 540-543/MT ex-mill, Durgapur. Owing to acute shortage of rakes, billet transport from India to Nepal has recently got disturbed which has resulted in hike in steel prices in Nepal.
Global billet export offers inch down, Chinese domestic prices rise
1. Billet export offers from CIS nations have weakened by USD 5-10/MT W-o-W and is assessed at USD 505-510/MT, FoB Black Sea.
2. SE Asian billet import prices have moved down slightly this week to USD 530-540/MT, CFR.
3. Chinese billet export offers are heard around USD 520-525/MT, FoB.
4. Domestic spot billet(150*150mm, Q235) prices in China have increased and is assessed at RMB 3,640/MT (including 17% VAT) against week opening of RMB 3,540/MT (including 17% VAT).
5. Earlier this week, Iran’s Khouzestan steel company concluded a tender of 30,000 MT billet at around USD 500-505/MT FOB Iran. The cargo is likely to be shipped to Persian Gulf nations.
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