Vizag Steel, India’s state owned and biggest billet exporter, has settled a deal for bloom export tender at around USD 290-295/MT, FoB Vizag Port, which is lower by USD 30/MT from previous tender.
The company had offered 90,000 MT billet (65*65 mm and 95*95 mm) and bloom (150*150 mm) for exports through tender, which had expired on 24 Sept’15.
According to sources, two companies namely Duferco and Valency International Ltd had participated in the tender. Out of which, Duferco was the highest bidder, confirming about 25,000 MT of bloom at USD 290-295/MT, FoB Vizag Port. The rest of quantity remained unsold.
Vizag Steel’s last bloom export tender was sold at USD 325-330/MT, FoB Vizag Port during Aug’15. The cargo was shipped to Bangladesh. Vessel freight from India to Bangladesh is around USD 17-18/MT.
Meanwhile, offers from China still remain low at USD 290-295/MT, CFR Chittagong and around USD 270-275/MT, FoB China main port. Currently, Chinese market is close for a week’s time amidst National day holiday.
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