Indian billet export tender which recently held on 10 Nov’16 has fetched bid higher by USD 45/MT, FoB as compared to its last export tender.
The recently held export tender has attracted bids above USD 380/MT, FoB for late December shipment (yet to be concluded) as compared to last tender which attracted bid at USD 335/MT, FoB India last month for early December shipment.
Prime reason behind higher bids received was the sudden surge in coking coal prices which touched to the level of USD 310/MT, FoB Australia, has made all the global billet exporting countries like China, Russia to raise their export offers sharply due to expensive raw material and in-line it has impacted Indian billet export offers too.
Vizag Steel, an Indian state owned steel maker, has floated an export tender of 25,000 Bloom (150X150 mm) and 10,000 MT (90X90 mm) billets for late December shipment which got expired on 10 Nov’16. According to sources, the tender attracted 6 participants. The highest bid received was at USD 382.1/MT, FoB Vizag Port, followed by the second highest bid received was at 381/MT, FoB Vizag Port.
Alongside, the other lot of 10,000 MT billet (90X90 mm) attracted 2 participants. The highest bid received was at USD 382.2/MT, FoB Vizag Port followed by second highest at USD 381/MT, FoB Vizag Port. However, the company is yet to conclude the tender and if it gets concluded, the shipment is most likely to ship to Thailand according to sources.
It should be noted that, the company’s last export tender which expired on 18 Oct’16 was concluded at USD 335/MT, FoB Vizag Port for 20,000 MT bloom (150X 150 mm) for early December shipment and cargo is likely to ship to Bangladesh. Another lot of 10,000 MT billet (90X90 mm) in the same tender did not attracted much participants and remained unawarded.
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