JSW Steel, India’s largest steel producer, has concluded another 15,000 MT billet export deal for size 130*130 mm. The billet will be produced & exported from its Dolvi, Maharashtra based plant, according to sources.
As per sources, the deal price for the 130*130 mm billet at USD 405-410/MT FoB India, which is equivalent to INR 26,800-27,000/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 South East Asian countries.
Recently, the company had also concluded an export deal for 165*165 mm billet of quantity at USD400-405/MTFoB India. The cargo is likely to be shipped to Thailand.
Few more export deals concluded recently. Trade participants in South India, Chennai reported billet export deals by medium size manufacturers at USD 390-400/MT FoB, for South East Countries (Indonesia & Thailand).
Vizag Steel (RINL) also concluded 20,000 MT billet export tender at USD 390/MT FOB India. The cargo is likely to be shipped to South East Asian countries.
Presently due to higher global Chinese steel prices, exports of billet had also gained momentum. In addition, Chinese steel export prices are at USD 470-480/MT, FoB China, which are at much higher level and no buyers are showing interest at such higher levels.
Alongside, material from the CIS nations is already booked till March. So, global buyers are showing interest for Indian cargoes. It is likely that by looking towards recent market scenario, Indian billet exports will increase for the coming months.
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