Steel Authority of India – a government of India Company had floated export tender for 13,500 MT billet. The cargo will be shipped from Haldia port.The tender put up for Prime Mild Steel Non-Alloy Concast billets are 125*125 mm offered from Durgapur Steel plant and had 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%.
Due date for bid submission was on 21 Nov’18 and the material shipping was scheduled by 15 Jan’19.
According to market sources report to SteelMint, the tender received dull participation with bids around USD 450-455/MT, FoB. As per sources the tender was cancelled amid dull participation.
Global Billet Market Overview:
1. CIS billet export offers have declined by USD 5/MT to USD 445-455/MT, FoB Black Sea.
2. SE Asian buyers were learned to keep eyeing for further decline in offers
3. Domestic billet prices in India have weakened amid limited trades. In Mumbai domestic billet prices are at around INR 33,400/MT for 125*125mm (GST extra).
4. Vizag Steel concluded export tender to Nepal for Billet (90*90 mm) at around $480/t & Bloom (150*150 mm) at $455-460/t ex-mill
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