Steel Authority of India (SAIL), government owned and India’s second largest steel producer had recently floated an export tender of 10,000-15,000 MT billets from its IISCO plant.
The steel maker had floated export tender for 150*150 mm size billets with chemical composition : C: 0.17-0.23%, Mn: 0.60-1%, S&P: 0.05% Max, Si: 0.1% Min. The due date for the same was 24 Jun’17.
According to sources report to SteelMint, the tender managed to receive 2-3 bids and the highest bid was at USD 395/MT, FoB Haldia. As per sources, the company has dropped the tender as the company was eyeing for bids at around USD 415/MT, FoB basis.
SteelMint’s assessment for Indian billet (150*150 mm) export is at USD 400-410/MT, FoB India.
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