According to the sources, the Steel Authority of India Limited (SAIL) in recent booked export deal of 3 rakes qty 8,000 MT for 125×125 mm Billets.
The material, most likely to be send for Nepal and the average price was assessed at USD 415-420/MT Ex-Durgapur (West Bengal) & at around USD 435-437/MT, CIF Nepal.
Moreover, medium & small manufacturers in the Durgapur, West Bengal are offering 100×100 mm induction furnace grade billets in the range of INR 25,000-25,500/MT (USD 368-375) ex-works. The producers are majorly getting export bookings for Nepal & Sri Lanka.
India’s largest exporter, Vizag steel is expected to come up with a fresh tender in next week for February shipments. Last deal from India for 150x150mm BF grade billet was settled at USD 405/MT FOB Haldia port. Cargo was shipped to Indonesia. Another last small deals of 90*90 and 100*100mm induction furnace billets from India’s East region (West Bengal) was settled at USD 370-375/MT (ex-mill) for Nepal.
Chinese Billet Export Offers Fall to 6-Month Low: After New Year holidays, billet export offers saw a drastic fall in China which plunge to 6-month low. Offers have dropped by almost USD 15-20/MT in week duration.
Current offers for 150x150mm Q235 billet are assessed at USD 390-400/MT FOB China main port, which was hovering at USD 410-415/MT FOB last week.
According to the sources ‘fundamentals have further weaken Chinese trade activities’. ‘Buyers are hesitant in taking positions at any levels and are waiting for market to take a clear direction’, they added.
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