Vizag Steel (also known as RINL) located in Vishakapatnam has reduced its Bloom (150*150 mm) prices by INR 500/MT for May15. The company is offering the material at INR 24,750/MT ex-Vizag and INR 26,350/MT delivered to Hyderabad (basic price, ED & VAT extra; advance payment) on ex-yard basis.
Recent export tender of 100,000 MT Bloom by Vizag Steel received bids at USD 370/MT, FoB Vizag (East Coast India) from two participants, each for consignment of 20,000 MT Bloom. The consignment is likely to be shipped to Bangladesh. The company will receive ex-plant realization of around INR 23,000/MT.
Last offers for 165×165 mm Bloom from JSW were heard to be at INR 26,500/MT ex-yard at Hyderabad. While, other mid-sized and small Billet manufacturers were offering small sized (100*100, 120*120 mm) Billet at INR 27,100/MT (advance payment).
In current scenario, Indian Billet prices have hit a 4 year low due to improved supply and lull buying activities in the global market. Current prices for 100*100 mm Billet are INR 29,700/MT (ex-Mandi Gobindgarh), INR 26,050/MT (ex-Raipur), INR 26,300/MT (ex-Durgapur) and INR 28,200/MT (ex-Mumbai).
Domestic MS Billet Prices as on 4 May’15
| Particular | Prices | W-o-W | M-o-M |
| Ex-Mandi Gobindgarh* | 29,700 | – 200 | – 1,450 |
| Ex-Durgapur* | 26,300 | – 200 | – 1,800 |
| Ex-Jharsugda* | 25,400 | – 400 | -1,050 |
| Ex-Rourkela* | 25,500 | – 300 | – 1,000 |
| Ex-Raipur* | 26,050 | – 50 | – 1,600 |
| Ex-Jalna* | 27,500 | – 600 | – 1,600 |
| Ex-Kandla | 27,600 | + 100 | – 1,750 |
| Ex-Mumbai* | 28,200 | – 400 | – 1,350 |
| Ex-Chennai | 27,800 | – 200 | – 200 |
| Ex-Hyderabad | 27,500 | + 1,000 | – 300 |
Prices in INR/MT
*Advance payment; rest regular payment
Source: SteelMint Research
Global Billet Prices as on 4 May’15
| Particular | Prices | W-o-W | M-o-M |
| FoB India | 370 | 0 | – 18 |
| FoB Black Sea | 370 | 0 | + 12 |
| CNF Turkey | 390 | 0 | + 12 |
| CNF Dubai | 385 | 0 | + 3 |
Prices in USD/MT
Source: SteelMint Research
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