Steel Authority of India (SAIL) had floated a tender for export of 15,000 MT billets which expired on 25 Jul’17. The billets offered were of size 150*150 mm having chemical composition as follows: C: 0.17-0.23%, Mn: 0.6-1%, Si: 0.1% Min, S: 0.04% max and P: 0.04% max.
According to market sources report to SteelMint, the tender has been concluded at around USD 440/MT, FoB basis and is likely to be shipped to South-east Asian nations.
Global billet export offers continue to increase
With Chinese billets still away from the global market, global billet export offers have increased further this week amid scarce supplies. Higher prices in China’s domestic billet market has prevented suppliers from offering material in export market. Also shut down of some induction furnaces in China reduced billet supply.
Another factor that has resulted in hike in billet export offers is rising scrap prices. Turkey imported scrap (HMS 80:20) prices are at USD 322-323/MT, CFR basis.
CIS billet export offers continue to witness uptrend this week amid less availability and are heard around USD 446/MT, FoB Black Sea.
Indian billet (150*150mm) export offers are currently assessed at USD 445-455/MT, FoB India.
Iran based major billet exporters are also looking up for price levels in the range of USD 440/MT, FoB Iran. Iran’s Khouzestan Steel Company (KSC) is likely to come up with the fresh billet export tender shortly for September shipments. Company’s last billet tender was heard to have concluded at around USD 415-420/MT, FoB.
Leave a Reply