India’s state-run SAIL (Steel Authority of India Ltd) has received bids above at USD 505/MT in its billet export tender offering total 27,000 MT on the east coast, SteelMint learned from market sources. Company has not concluded the tender yet. Price validity is till 23rd Dec.
SAIL issued two tenders on 20th Dec for export, first tender was of 13,500 MT from Haldia and another 13,500 MT from Vizag port on FOB basis for 28 Feb’18 shipment. Specification of cargoes mentioned was C-0.27-0.32%, Mn-0.7-0.9%, S-0.05% max, P-0.05% max and Si – 0.15-0.35%
Earlier, another state-run company Vizag steel concluded 55,000 MT of billet of size 150mm and 90mm at around USD 500/MT on FOB Vizag basis.
Billet prices in global market are trading high on non availability of Chinese cargo and rising scrap prices. Global prices have increased by about USD 50/MT in last one month.
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