Indian billet export market has turned less active with recently floated tenders receiving weak response from bidders. Indian steel mills continue to eye for high prices, however bids received were quiet less than their expectations.
According to market sources report, a govt. owned steel maker had recently floated a tender for export of 10,000 MT billets of 150*150 mm. The tender did not succeed in attracting bidders and fetched no bid.
Another steel maker had issued an export tender for 30,000 MT billets (150*150 mm, IS 2830 C20MMn GrA) which was due on 08 Nov’17. Trade sources reported that there was weak reponse to this tender as well with participation from single bidder at around USD 450-452/MT, FoB. However company’s expectations remains high by USD 10-13/MT.
Global Billet export offers:
CIS billet export offers are heard around USD 455-460/MT, FoB Black Sea.
Domestic billet prices in northern China are today assessed at RMB 3,860/MT (ex-works) against yesterday’s closing of RMB 3,870/MT (ex-works). Chinese HRC export offers are heard around USD 520-530/MT, FoB for 3 SP 150*150mm billets.
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