Steel Authority of India (SAIL) has received bids for its 20,000 MT Billet (150*150mm) export tender at below USD 300/MT FOB India (Haldia). SAIL had floated this tender on 1st Jun which expired on 6th June 2016.
Sources mentioned that 4-5 companies participated in this tender and bids were below USD 300/MT FOB Haldia port. Company has yet not finalized the tender. It may be noted that last tender by Vizag steel of same size was concluded at USD 315/MT FOB Vizag port in first week of June 2016.
Generally billet exports from Haldia port fetches lower value as compared to Vizag port due to draft restriction and high demurrage charges.
Indian Billet export all time high in May 2016
Indian billet exports were recorded an all time high in May 2016 at 208,000 MT. Major exports were concluded to Bangladesh, just before the budget session (June) in order to take duty benefit. Bangladesh govt imposed 20% regulatory duty on billet imports recently.
Leave a Reply