Chinese Billet export offers to India and Bangladesh remained unchanged this week. Though, Indian importers preferred to keep themselves away from Chinese Billet amid quality concerns and volatility in Indian domestic prices.
Current offers for commercial grade Billet to India and Bangladesh are assessed at USD 380-385/MT CIF main ports for April’15 shipments.
“Indian re-rollers are not accustomed to imported billet. Although prices are quite attractive, nobody wants to take chances specially when steel prices are so volatile. Current offers for a shipment of 15,000-20,000 MT commercial grade Billet should be available at USD 375-380/MT CIF Mumbai port.” said an importer based in Mumbai.
Indian government has raised peak rate duty on steel imports to 15% from 10%, but kept effective rate of duty unchanged. Accordingly, imports of Billet will continue to attract a duty of 5%.
Bangladesh based re-rollers prefer Chinese Billet over Russian/Ukrainian. After speaking with a large re-roller, Steelmint assessed that current offers for commercial Billet from China are at USD 380-385/MT CIF Bangladesh and around USD 390-395/MT from Black Sea (Russia).
“Most of steel re-rollers in Bangladesh are inclined towards Chinese billet, as people hesitate buying from Russia and Ukraine due to geo political tensions.” said a large steel re-roller based in Bangladesh.
MS Billet Global Prices as on 11 Mar’15
| Particular | Prices |
| FOB Black Sea | USD 360/MT |
| FOB China | USD 340-350/MT |
| CIF India | USD 380/MT |
| CIF Bangladesh | USD 385/MT |
| Ex Mumbai (India Domestic) | INR 28,500/MT, USD 456/MT |
| Ex Chennai (India Domestic) | INR 28,450/MT, USD 455/MT |
Note: Basic Price. Duties and Taxes Extra
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