Steel Authority of India – a government of India Company had floated export tender for 16,200 MT billet. The cargo was supposed to be shipped from Haldia port. The tender was put up for Prime Mild Steel Non-Alloy Concast billets, size 125*125 mm offered from Durgapur Steel plant and has following specifications – C-0.27-0.32%, Mn-0.70-0.9%, S-0.05% max, P-0.05% max and Si – 0.10-0.35%.
According to market sources, the tender’s material chemistry was distinct from the regular billet tender, which in turn lead to limited participation and hence, the company had to cancel the tender.
Company floats a fresh billet export tender – The company has floated a fresh tender for 16,200 MT for 125*125mm billets having specifications C-0.27-0.23%, Mn-0.60-1%, S-0.05% max, P-0.05% max and Si – 0.15-0.35%. The material offered for tender is scheduled to be shipped in September. Bid due date is 17:00 hrs of 19 Jul’19.
Global billet export market remained stable so far this week. Russian offers at USD 415-420/MT, FoB Black Sea. Declining Turkey’s scrap import scrap prices with sluggish long steel demand is hesitating the buyers from making any purchase. Currently, buyers are following wait-and-see approach. Imported scrap prices in Turkey have also remained unchanged at USD 293-294/MT, CFR Turkey for US origin HMS (80:20).
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