Steel Authority of India Ltd (SAIL), India’s state owned and largest steel producer has recently concluded second export deal of billet from its IISCO plant (Bengal).
As per the market sources, the company has sold around 15,000 MT billet of size 150*150 mm at around USD 260-262/MT, FoB Haldia Port. This cargo will also be shipped to Bangladesh along with the previous.
The company had concluded its previous tender of 15,000 MT billet at USD 258/MT, FoB Haldia Port, a week back to Bangladesh.
Looking at lower handling capacity of Haldia port, SAIL has to sell smaller lots for easy shipments. Freight rate from Haldia to Bangladesh is approximately USD 15-16/MT.
Vizag Steel’s export tender update
Vizag Steel’s recent export tender of 30,000 MT billet and 60,000 MT bloom, which expired on 26 Nov’15, is heard to have got some positive response from the market. Negotiation are in progress; we may get clarity about this by Monday, ones something definite comes out from the negotiations.
Bids are expected to be around USD 265/MT, FoB Vizag Port.
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