Vizag Steel, India’s state owned and biggest billet exporter, has received bids lower by USD 5/MT for the bloom tender, which expired on 26 Oct’15.
Bids were heard at around USD 280-285/MT, FoB Vizag Port (India’s west coast). The cargo is likely to be shipped to Bangladesh.
The company had offered 90,000 MT billet (65*65 mm and 95*95 mm) and bloom (150*150 mm) for exports through tender on 6 Oct’15. However, it could not be confirmed that the company has concluded deal or still negotiating with participants. Vizag Steel officials were not available for the comment.
Last export tender by Vizag Steel was settled at around USD 290-295/MT, FoB Vizag Port in the month of Sept’15. Prior to that, tender was closed at USD 320-325/MT, FoB Vizag Port in the month of Aug’15.
Offers from China still remain competitive. 150*150 mm sized billet offers are assessed at around USD 260/MT, FoB China main port and around USD 275-285/MT, CFR Chittagong Port.
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