An Indian mill was reported to have concluded 30,000 t spot sale bloom export tender. According to sources reported to SteelMint, the company concluded the tender at $390-395/t, on FoB India basis. The shipment is likely to ship for China by end-Aug’20. The tender was floated against 100% advance payment terms and hence fetched slightly low-price levels. The company has floated another 30,000 t bloom export tender for spot sale of which due date was 15:00:00 hrs of 24 Jul’20.
On the other hand, another Indian billet export tender for 20,000 t (150*150mm) was reported to have fetched the highest bids at $397/t, FoB levels. However, the tender is not concluded yet and is under negotiation.
While billet export offers from a private mill from India were noted to be at $430/t, CFR for end-Sep’20 shipments.
SteelMint’s assessment for billet export offers from India (150*150mm) has increased and is currently at $395-400/t, FoB, up by $5/t w-o-w. Hike in global billet & scrap offers along with intact Chinese buying interest has lifted Indian billet export offers.
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