Vizag Steel (VSP), a state owned and India’s one of the largest steel producers, has cut bloom prices by about INR 300/MT (USD 4.5), according to buyers, who have received offers from VSP.
150*150 mm bloom is heard to being offered at INR 23,000/MT (ex-Yard, Hyderabad), which was INR 23,300/MT last month. Freight from Vizag to Hyderabad is about INR 1,500/MT. So, ex-Vizag prices comes out to be INR 21,500/MT (USD 325/MT).
Sources mentioned that prices have been cut on account of weak demand and lower offers from private manufacturers.
Vizag Steel’s last bloom export tender was concluded at USD 300/MT, FoB Vizag Port for Bangladesh and billet was concluded at USD 306/MT (ex-works) to Nepal.
Leave a Reply