Vizag Steel, India’s state owned mill and largest billet exporter, has received bids for its 50,000 MT billet/bloom at around USD 355-360/MT, FoB Vizag Port, which is higher by USD 95/MT from previous tender (concluded in Dec’15).
The company had offered 50,000 MT billet (65*65 mm and 95*95 mm) and bloom (150*150 mm) for exports through tender, which had expired on 11 Apr’16.
According to sources, four companies namely Duferco, Tata International, Nucor and Mac Steel had participated in the tender. Out of them, Duferco was the highest bidder for bloom at around USD 355-358/MT and Tata International was highest bidder for billet at around USD 355-356/MT, FoB Vizag Port, according to sources.
Vizag Steel’s last bloom export tender was sold at USD 262/MT, FoB Vizag Port during Dec’15. The cargo was shipped to Bangladesh. Vessel freight from India to Bangladesh is around USD 15-16/MT.
Meanwhile, offers from China continue to move up. Last offers for Q235 (150*150mm) assessed at USD 360-365/MT, FoB China and around USD 380-385/MT, CFR Chittagong.
However, Vizag Steel has not finalized the deal and is expected to take a call by this weekend.
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