Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel had issued a tender for export of 20,000 MT bloom (150*150 mm, IS 2830 C20 MMN GR A) for October end delivery. The tender got expired on 06 Sept’17.
As per recent report received from market sources, the company has managed to close the tender at USD 515/MT, FoB India.
Company’s tender for export of 15,000 MT 90*90 mm billets (C-0.17-0.23%, Mn-0.6-1%, Si-0.15-0.35% max, P-0.045% max & S-0.05% max) was concluded at around USD 525-530/MT, FoB India.
Market participants are of the view that the material offered having specifications (3 SP) is being less preferred in South East Asian Nations. They generally prefer material of specification 3 SP or 5 SP which is generally traded higher by USD 5-10/MT.
Global Billet Market Overview – Week 38
Chinese exporters kept away from quoting billet offers in the market. Domestic billet prices in China fell to RMB 3,720/MT (ex-works) towards the weekend amid drop in futures.
Billet export offers from CIS nations were heard around USD 520/MT, FoB Black Sea. Reference price for billet import to Middle East is assessed at USD 540/MT, CFR.
Turkey billet export reference prices are around USD 530-540/MT, FoB.
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