Vizag Steel, India’s state owned and biggest billet exporter, has received bids from two participants for its 90,000 MT tender, which closed on 24 Sept’15.
Sources confirmed, Duferco and Valency International Ltd, the global trading houses were the two participants in the tender. However, price bid was not confirmed yet.
Last tender by Vizag Steel was sold at USD 325-330/MT, FoB Vizag port (Indian East Coast) for 150*150 mm size and cargo was shipped to Bangladesh. Vessel freight from India to Bangladesh is approximately USD 17-18/MT.
However, participants speculate that tender would have received lower price bids as Chinese offers are way too low. Current offers for the same size billet from China are assessed at USD 290-295/MT, CFR Bangladesh.
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