Rashtriya Ispat Nigam Limited (RINL) also known as Vizag Steel had floated a tender for export of 40,000 MT billet and bloom. The steel maker had floated tender for billet : 65*65mm (10,000 MT), 75*75mm (10,000 MT) and bloom 150*150mm (5,000 MT), 200*200mm (15,000 MT).
The material delivery for bloom is 31 Mar’18 and 24 Apr’18 for billets.
Earlier, SteelMint reported that the steel maker has concluded the tender for 65*65mm at around USD 535/MT, FoB India and 150*150mm at around USD 515-520/MT, FoB India, 75*75mm billet around USD 520-525/MT, FoB India.
In the latest update received, the steel maker has concluded the tender for 200*200 mm at around USD 505/MT, FoB. Since this is not a regular size and does not have many buyers hence the material has fetched lower bids than normal billets.
Global Billet Market Overview
1.Billet export offers from CIS nations have fallen marginally to USD 535-540/MT, FoB Black Sea.
2. Billet import price assessment to SE Asian nations stands at USD 555-560/MT, CFR
3. Iran billet export price assessment is around USD 530-535/MT, FoB. Iran’s KSC has recently sold 60,000MT billet at similar price levels to GCC countries.
4. Chinese billet export price assessed at USD 535-540/MT, FoB
5. Domestic spot billet (150*150mm billet, Q235) prices in Tangshan, China weakened to RMB 3,610/MT (17% VAT included) against RMB 3,660/MT in the beginning of this week. Slow demand, rising inventories amid tight cash flows has turned the market sentiments gloomy.
6. India’s SAIL concluded 13,500 billet (125*125mm billet, 5SP) export tender at USD 541/MT, FoB India.
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