Indian state owned mill had floated export tender for 18,900 MT billet of size 150*150mm. As per sources, the tender received decent response from bidders and has been concluded the tender at around USD 455-460/MT, FoB Haldia.
Also Vizag Steel had floated ocean export tenders for 30,000 MT bloom (150*150mm) and 10,000 MT billet (65*65mm & 75*75mm). As per sources the tender is under negotiation and is likely to be finalized.
Indian billet prices in domestic market have come down amid dull trades. 100*100 billet assessment stands at INR 33,900/MT (USD 487, ex-Mumbai, GST extra) down by INR 1500/MT W-o-W.
Global billet market overview –
–Billet export offers from CIS nations have moved up by USD 5/MT W-o-W following hike in global scrap prices. SteelMint’s assessment for Russian billet is around USD 455-460/MT, FoB Black Sea.
–Following this billet import assessment to SE Asia has also increased to USD 480/MT, CNF.
–Billet export offers from Iran assessed at USD 385-390/MT, FoB basis.
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