Five companies participated for Vizag Steel’s 50,000 MT billet and bloom export tender, which closed on 11 Apr’16, according to trade sources.
Bid price is not opened yet but expected to be high as compared to last tender. Last tender was concluded in the month Dec’16 at USD 262/MT, FoB Vizag Port (Indian East Coast) for 150*150 mm.
Five trading houses namely Duferco, Nucor, Tata International, Mac Steel and Shabro participated in the tender, according to sources. Cargo is likely to be shipped to Bangladesh.
It is to be noted that Indian billet/bloom enjoys differential duty under SAFTA trade agreement. With soaring Chinese billet export prices, it was expected that Indian billet will get preference.
Current offers for 150*150 mm Q275 grade billet from China are assessed at around USD 340-345/MT, CFR Chittagong (Bangladesh). There is a flat duty of USD 90/MT on import of billet.
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