An Indian steel maker had floated tender for export of 18,900 MT billet for 125*125mm and 150*150mm. The tender was due on 07 Aug’18 and the material shipping is scheduled within 30 Sept’18.
As per the update received from market sources, the tender received participation from 3-4 companies. The company has concluded the tender at around USD 505-510/MT, FoB levels.
Prior to this the company had floated billet export tender for around 16,200 MT which was due on 27 Jul’18. As per sources reported to SteelMint, the company got the bids in the range of USD 503-505/MT, FoB but the company was seeking higher bids. Amid increased buying interest from traders it had re-issued the tender.
Vizag Steel’s billet export tender – Vizag Steel’s billet export tender 10,000 MT for 90*90mm is due on 11:00 hrs on 11 Aug’18.
Global Billet Market Overview – Week 32, 2018
1. CIS billet export offers have declined amid limited trades and the current assessment stands at USD 490-495/MT, FoB Black Sea. Offers have come down amid falling scrap prices in Turkey and dull finished steel demand.
2. Domestic billet prices in China have continued to strengthen on hike in futures and increase in raw material prices. Current assessment at around RMB 3,990/MT (including VAT) for 150*150mm billet Q235, up by RMB 10/MT D-o-D.
3. Indian billet prices have increased this week post hike in prices of sponge iron and improved buying interest from Nepal based re-rollers. Present assessment at INR 34,200-34,400/MT (ex-Mumbai, GST @18% extra) (USD 496-499).
4. Indian induction grade billet export offers for Nepal are heard around USD 490/MT ex-mill, Durgapur.
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