Steel Authority of India – a government of India Company had floated export tender for 13,500 MT billet. The cargo will be shipped from Haldia port.The tender put up for Prime Mild Steel Non-Alloy Concast billets are 125*125 mm offered from Durgapur Steel plant and had following specifications – C-0.17-0.23%, Mn-0.5-0.9%, S-0.05% max, P-0.05% max and Si – 0.15-0.35%.
Due date for bid submission was on 10 Oct’18 and the material shipping is scheduled within 30 Nov’18.
According to market sources report to SteelMint, the tender received participation from about 3 companies with highest bid around USD 470-472/MT, FoB. However the tender has not been concluded yet and is still under negotiations.
Global Billet Market Overview:
1. CIS billet export offers have declined by USD 5/MT to USD 460/MT, FoB Black Sea. As per reports, increased number of offers and comparatively subdued demand has limited the number of deals.
2. Demand from SE Asian nations was learnt to be weak.
3. Domestic billet prices in India have weakened amid limited trades. In Mumbai domestic billet prices are at around INR 34100-34200/MT for 125*125mm (GST extra) (USD 463-464).
4. Nepal mills buying interest from India has weakened amid pending old order dispatches and new bookings will be made after festive holidays. On 29th Sep’18, Vizag Steel (RINL) had invited a export tender to Nepal for 5,418 MT (150*150mm) Bloom, 10,836 MT (90*90mm) Billet & 5,418 MT (5.5 & 8mm) Wire rod. The tender expired on 3rd Oct’18. The company has concluded Billet export tender at close to USD 501-503/MT (Ex-Mill) for 2 rakes (equivalent to 5,418 MT) only.
Leave a Reply