Vizag Steel, an Indian state owned steel maker, had floated an export tender of 20,000 MT billet (150*150 mm) and 10,000 MT (90*90) for December shipment.
Tender expired on 18 Oct’16, and has fetched highest bid at USD 335/MT, FOB Indian East Coast, according to sources. Second highest bid was at USD 325/MT FOB, followed by USD 315/MT and USD 310/MT. Tender observed participation from 4 companies.
There was a single participant for 10,000 MT billet (90*90mm) and bid was received at USD 312.7/MT FOB India east coast.
Last tender for 20,000 MT billet (150 X 150 mm) and 10,000 MT (90 X 90 mm), which got expired on 18 Sept’16, received good participation. The lot of 20,000 MT billet (150 X150 mm) attracted 6 participants. The highest bid received was at USD 335/MT, FOB Vizag Port and the tender has been concluded at the same price bid. The cargo will be shipped to Bangladesh.
Another lot for 10,000 MT billet (90 X 90 mm) received the highest bid at USD 332.75/MT, FOB Vizag Port, and the company has concluded the tender at the same price bid. The cargo will be shipped to Sri Lanka.
| Particular | Delivery | Grade | Currency | Price | W-o-W | Remarks |
| China Export | FOB China | 150*150mm | USD | 335-340 | 330-335 | Chinese billet export prices increase due to rise in seaborne coking coal. |
| India Export | FOB Vizag | 150*150mm | USD | 330-335 | 330-335 | Current tender received highest bid above USD 330/MT FOB |
| CIS Export | FOB Black Sea | 125*125mm | USD | 320-325 | 320-325 | Prices stable on limited Chinese supplies in the market |
| South East Asia Import | CFR SE Asia | 150*150mm | USD | 345-350 | 340-345 | Prices rise owing to rising Chinese offers |
| Bangladesh Import | CFR Chittagong | 150*150mm | USD | 350-355 | 340-345 | Last deal from India was heard settled above USD 355/MT CFR Chittagong |
| Middle East Import | CFR Dubai | 150*150mm | USD | 345-350 | 335-345 | Prices increase on limited supply from China. However buyers are reluctant to pay high prices for imported billet. |
| Turkey Import | CFR Turkey | 125*125mm | USD | 335-340 | 330-335 | Rising billet offers from CIS and China is forcing Turkish steel mills to go for scrap imports |
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