Vizag Steel, India’s one of the largest billet and bloom exporters, has finally concluded an export deal for 60,000 MT bloom. The company had offered 60,000 MT bloom and 30,000 MT billet expired on 26 Nov’15.
As per industry sources, the company has concluded the deal at USD 267/MT, FoB Vizag Port for bloom having Mn content 0.60-1.00%. However, base grade was kept at USD 262/MT FoB (Mn content 0.30-1.50%). The shipment is expected to move to Bangladesh. While, billet offered in the tender remained unsold.
Recent Indian export deal
SAIL, the largest steel manufacturing body in India, has recently concluded two export deal of 15,000MT billet each to Bangladesh. The first deal was concluded at USD 258/MT and the other at USD 261/MT, FoB Haldia Port.
Freight rate from Haldia to Bangladesh is around USD 15-16/MT and Vizag to Bangladesh is USD 11-12/MT, which has made this billet deal a fair deal.
Meanwhile, Chinese billet offers to Bangladesh have fallen to USD 260-265/MT, CFR Bangladesh.
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