JSW Steel, India’s largest steel producer, has concluded a fresh 10,000 MT billet export deal for size 165*165 mm. The billet will be produce & exported from its Dolvi, Maharashtra based plant, according to sources.
As per the sources, the deals price for the 165*165 mm billet at USD 400-405/MT FoB India, which is equivalent to INR 26,600-26,800/MT as offered by standalone medium size EAF (Electric arc furnace) operators in the Mumbai, Maharashtra market. The cargo is likely to be shipped to to Thailand according to sources.
The company has also exported HBI (DRI) to Bangladesh at 30,000 MT in the starting of current month i.e. Feb’17. The deals prices for the HBI was at USD 255-260/MT (INR 17,000-17,500/MT), FoB India.
Presently due to higher global Chinese steel prices, exports of billet had also gained momentum. In addition, material from Russian and Ukranian countries is already booked till march. As a result, global buyers are not left with any other option rather than purchasing material from India . This may also bring in more billet export deals from India in the coming months.
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