Steel Authority of India Ltd (SAIL), India’s largest and pubic sector steelmaker, has floated an export tender of 15,000 MT billet (150*150mm) from its IISCO plant located in Bengal. This is the 3rd export tender floated by the company in last 2 months.
The company’s last two tenders of 15,000 MT each were concluded at USD 258-261/MT and USD 253 /MT, FoB Haldia Port in the month of Nov’15 and Dec’15 respectively and were shipped to Bangladesh.
Vizag Steel’s billet tender under negotiation
Recent tender of billet and bloom floated by Vizag Steel for African and ASEAN countries is under negotiation, according to sources.
Sources also reported that Tata International has bid for billet (90*90 mm) and negotiating with Vizag Steel. While, other participant’s bid for bloom (150*150mm) was rejected due to low prices.
Chinese billet offers
Chinese billet offers fell marginally this week owing to low demand and competitive offers from CIS countries. Current offers for 150*150 mm billet are USD 245/MT, FoB China main port.
Global billet prices as on 3 Feb 16
| Particular | Size/Grade | Prices |
| FOB China | 125*125, BF Grade | USD 240/MT |
| FOB India | 150*150, BF Grade | USD 262/MT |
| FOB Black sea | 125*125, BF Grade | USD 245/MT |
| CNF Turkey | 125*125 | USD 260/MT |
| CNF Middle East | 125*125 | USD 260/MT |
| CNF Bangladesh | 125*125 | USD 265/MT |
| Ex-Mumbai, India | 120*120 | INR 23,000/MT |
| Ex- Tanshang*, China | 150*150 | RMB 1,540/MT |
USD 1 = INR 68.08 ; RMB 6.58
Source: SteelMint Research
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