An Indian steel maker had floated a tender for export of 10,000 MT billets. The offered material was of grade IS 2830 GR A of size 90*90mm having length of 12 meters. The material delivery is scheduled by 15 Jun’18.
The due date for bid submission was 09 May’18 till 11:00 hrs and the bid validity is till 16 May’18.
According to market sources report to SteelMint, the tender attracted participation from four bidders and the highest bid received was around USD 530-535/MT, FoB India.
Global Billet export market witnesses improved trade activities
1. CIS billet (125*125mm) export price assessment stands at USD 510-515/MT, FoB Black Sea, up by USD 5/MT W-o-W. Bids from SE Asian nations moved up for CIS billets against last week over less availability of Chinese cargoes.
2. Billet export price assessment from Iran have also edged up this week with recent deals concluded with GCC countries. Current assessment stands at USD 495-500/MT, FoB Iran compared to last week’s assessment of USD 480-490/MT, FoB.
3. Chinese billet export assessment stood at USD 545/MT, FoB China.
4. Domestic billet prices in China fell since beginning of this week. Today price of Q235 billet in Tangshan fell to RMB 3,630/MT (incld 17% VAT), against last week’s close of RMB 3,710.
5. Domestic billet prices in India have observed a decline throughout this week over less inquiries and limited trades. Presently price of 125*125mm billet is at INR 36,700-36,800/MT (GST extra, Ex-Mumbai) against INR 37,100/MT, a week ago.
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