Steel Authority of India Ltd (SAIL), India’s state owned and largest steel producer in terms of production has recently concluded an export of Billet from its IISCO, Bengal plant, according to sources.
Market participants confirmed that about 10,000-15,000 MT billets of size 150*150mm has been booked at around USD 255-260/MT FOB Haldia port. Cargo is likely to be shipped to Bangladesh.
“Deal has been concluded in line with global prices. Chinese billet offers are around USD 250/MT FOB China main port” said a participant.
Last export deal from India was concluded by Vizag steel at around USD 282-283/MT FOB Vizag port in the first week of Nov’15.
There is an active tender of 30,000 MT Billet and 60,000 MT bloom by Vizag steel, which is expiring on 26 Nov’15.
Freight rate from Haldia to Bangladesh is around USD 15-16/MT and Vizag to Bangladesh would be around USD 11-12/MT.
Billet Offers
| Particular | Currency | Price | Change | Comment |
| FoB China | USD | 250-255 | 0 | Q235, 150*150 mm |
| FoB Black Sea | USD | 280-285 | 0 | Square billet 130*130 mm |
| FoB India | USD | 280-285 | 0 | Last Tender Price for 150*150 mm |
| CNF Bangladesh | USD | 265-270 | 0 | Chinese Origin, Q235, 150*150 mm |
| CNF Middle East | USD | 268-270 | 0 | Chinese Origin, Q235, 150*150 mm |
| CNF Turkey | USD | 290 | 0 | Black Sea origin |
| Ex-Mumbai,India | INR | 22,000 | 200 | Excld Excise and VAT |
| Ex-Tanshang, China | RMB | 1,550 | 0 | Incld 17% VAT |
Source: SteelMint Research
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