Neelachal Ispat Nigam Limited (NINL), a state-owned steelmaker, is offering approximately 9,500 MT Concast Billet (grade IS: 2830/2831) at INR 27,000-27,300/MT (USD 435-440/MT) ex-plant, Odisha on first-come-first serve basis.
- Billet of 150×150 mm (9-10 m) is being offered at INR 27,000/MT (ex-NINL plant)
- Billet of size 150×150 mm (6 m) is offered at INR 27,300/MT (ex-NINL plant)
Indian Blooms sold at USD 400/MT, FoB East Coast India
Indian state-owned steelmaker, RINL (Rashtriya Ispat Nigam Ltd), which recently floated a Bloom tender, was sold at USD 400/MT, FoB Vizag Port (East Coast India) to a global steel trader, Duferco. Cargo will be shipped to Sri Lanka and vessel freight assessed at around USD 20/MT.
RINL had rejected 15,000 MT Billet tender, which received bids at USD 415/MT, FoB Vizag Port.
Indian Billet Prices decline W-o-W
Billet manufacturers in India have declined their prices marginally owing to slow demand and easing supply of raw material. Current offers are in the range of INR 27,000-30,500/MT (USD 435-490/MT) ex-plant.
MS Billet Prices as on 20 Jan, 2015
| Particular | Prices | M-o-M |
| Ex-Raipur | INR 28,150/MT | – 50 |
| Ex-Rourkela | INR 27,000/MT | – 700 |
| Ex-Durgapur | INR 27,950/MT | – 1,350 |
| Ex-Mumbai | INR 29,900/MT | – 1,300 |
| Ex-Chennai | INR 30,600/MT | – 100 |
| FoB Black Sea | USD 395/MT | – 5 |
| FoB India | USD 420/MT | – 15 |
Basic prices, excluding all taxes
Source: SteelMint Research
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