Indian billet demand in export market improves owing to absence of Chinese billets and rising scrap prices.
JSW steel, India’s largest steel maker heard to have concluded another lot of 25,000 MT billet of size 130*130mm according to sources. However exact price details were known but according to participants deal was concluded at around USD 410/MT FOB India main port.
“10 bidders participated in the offline tender issued by JSW steel for 25,000 MT billets. Bids were in the range of USD 390-410/MT FOB India.”said trader who was closely watching this tender.
Cargo may have been booked for South East Asia. Tentative freight charges for Indonesia would be USD 20-22/MT and Philippines would be USD 25-30/MT, he further added.
Indian Billet demand increases
Demand for Indian billet has improved in last few days owing to recent defaults heard by Chinese suppliers and limited availability of bulk scrap in seaborne market. JSW steel last sold around 20,000 billets to Bangladesh at around USD 405/MT FOB India main port.
Global Billet Offers as on 22 Jun’17
|
Particular/Delivery |
Size, Grade, Origin | Prices in USD/MT | 1 Week Back |
1 Month Back |
| FOB India | 150*150, IS 2830 | 400-405 | 400-405 | 390 |
| FOB Ukraine | 125*125, 3sp | 397 | 395 | 390 |
| FOB China | 150*150mm, Q235 | 430 | 420 | 410 |
| FOB India | 95*95 | 400 | 410 | 410 |
| CNF Turkey | 125*125 | 410 | 405 | 400 |
| CNF Middle East | 125*125, Q235, China | 405 | 405 | 405 |
| CNF Bangladesh | 150*150 | 420 | 415 | 410 |
Source: SteelMint Research
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