Indian billet export assessment has moved up by USD 10/MT W-o-W, as per SteelMint’s analysis. This week Indian market observed two bulk billet export deals getting concluded for ocean market. SteelMint’s assessment for Indian billet export stands at USD 420-425/MT, FoB India.
–SAIL concludes 18,900 MT billet export tender – The company had invited an export tender for prime mild steel non-alloy concast billets, for size 150*150mm and 18,900 MT quantity. The material has following specifications – C%: 0.17-0.23, Mn%: 0.60-1.0, Si%: 0.10-0.35 S%: 0.05 Max, P%: 0.05 Max.The tender due date was 16 Dec’19. According to sources reported to SteelMint, the company has concluded the tender at USD 422-425/MT, FoB. The cargo will be shipped by mid Feb’20. This material being 4sp is generally preferred by SE Asian countries.
–RINL concludes 30,000 MT spot billet sales tender The Company had floated bloom export tenders of quantity 50,000 MT billet. The tender floated was for IS 2830 C20MMn Gr A grade and for sizes; 150*150, 200*200, 250*250mm. The material offered had specification C- 0.17 – 0.23%, Mn- 0.60 – 1.00% , Si- 0.15 – 0.35% , P- 0.050 Max & S – 0.050 Max .According to SteelMint sources, the company has concluded the tender for 150*150mm size for 30,000 MT at USD 416-420/MT, FoB. However other lots were cancelled amid limited participation. According to SteelMint analysis amid approaching holidays the material is expected to be sold by traders somewhere in mid Jan’20 which resulted in fetching slightly lower price.
–JSPL concluded deals last week-
The company had recent booked three billet cargoes; 30,000 MT, each at USD 415-420/MT, FoB India for Feb’20 shipment.
According to data maintained with SteelMint, Indian billet exports were recorded at 1.48 MnT in FY20 (till Oct’19). Largest share was of Nepal at 0.59 MnT followed by Italy (0.19 MnT), China (0.14 MnT) , Sri Lanka and Indonesia.
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