Steel Authority of India – a government of India company had floated export tenders for 16,200 MT billet. The tender put up for Prime Mild Steel Non-Alloy Concast billets are 5,400 MT (125*125mm) offered from Durgapur Steel plant and 10,800 MT (150*150mm) from IISCO Steel plant and has 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%.
The length of the billets is 9-12 metres. Due date for bid submission was on 27 Jul’18. The material shipping is scheduled within 25 Sep’18 from Haldia port.
According to market sources report to SteelMint, the tender received good response with participation from about 3-4 companies. Highest bid fetched was around USD 505/MT, FoB India. However the tender has not been concluded yet.
In another deal reported last week, a private mill sold around 25,000-30,000 MT billets (150*150mm, 4 SP grade) at around USD 520-530/MT, FoB India. The cargo is likely to be shipped to SE Asian countries.
Global billet market overview-
Billet export offers from CIS nations are assessed at USD 495-500/MT, FoB Black Sea. Though Chinese billet export offers were not heard but assessment stands around USD 525/MT, FoB. Chinese domestic billet prices have increased throughout last week. Spot price of 150*150mm, Q235 billet in Tangshan stood at RMB 3,880/MT (including VAT) against RMB 3,800/MT (including VAT) a week ago.
Leave a Reply