Rashtriya Ispat Nigam Limited – a government of India Enterprise, has concluded the billet export tender for size 150*150mm of quantity 30,000 MT recently, sources reported to SteelMint.
Last date for bid submission was 26 Jul’19. The material shipment is to be made by 15 Sep’19 from Visakhapatnam (GPL).
As per sources, the tender has been concluded at around USD 420-425/MT, FoB India. If sources are to be believed, the cargo is likely to be shipped to a South Asian country. This has lifted SteelMint’s Indian billet export prices by USD 10/MT against last week.
The company has witnessed the limited response for rest other lots of billet and wire rod and has cancelled the tender for these commodities.
Below are the tender details
| Product | Grade | Size (MM) | Quantity | Result |
| Billets | IS 2830 Gr A C20 MMn | 90 X 90 | 10,000 MT | Cancelled |
| IS 2830 Gr A | 77 X 77 | 10,000 MT | ||
| IS 2830 Gr A | 65 X 65 | 10,000 MT | ||
| Blooms | IS 2830 Gr A | 150 x 150 | 30,000 MT | Concluded, around USD 420-425/MT, FoB |
| Wire Rod Coils | SAE 1008 | 5.5 | 5,000 | Cancelled |
| SAE 1008 | 6.5 | 2,500 | ||
| SAE 1008 | 8 | 2,500 |
Billet market overview:
- CIS nations billet export assessment remained unchanged last week and are reported at USD 415-420/MT, FoB Black Sea.
2. Offers from CIS nations to Thailand were assessed around USD 450-455/MT, CFR Thailand and that to Philippines are learned around USD 458/MT, CFR Manilla.
3. Indian domestic billet prices assessed at around INR 27,700/MT (USD 403) (ex-Mumbai), for 100*100mm billet, GST extra.
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