Steel Authority of India – a government of India company has floated two export tenders for 10,800 MT billet from its Durgapur Steel plant and 8,100 MT from its IISCO Steel plant. Due date for bid submission was 16:00 hrs as per IST on 23 Jan’18. The material shipping is scheduled on 31 Mar’18.
The tender put up for Prime Mild Steel Non-Alloy concast billets (125*125mm) offered from Durgapur Steel plant has following specifications – C-0.27-0.32%, Mn-0.6-0.9%, S-0.05% max, P-0.05% max and Si – 0.15-0.35%. The length of the billets is 9-12 metres.
As per sources, the steel maker has concluded 125*125mm billet export tender. According to sources report, the tender has been cleared at around USD 520/MT, FoB India and the cargo is likely to be shipped to Sri Lanka as billet import prices in South East Asian nations is comparatively lower. Freight from India to Sri Lanka is around USD 25/MT.
However, billet export offers from CIS nations are heard around USD 500-510/MT, FoB Black Sea.
SE Asia Reports Limited Billet Trade Activities
Trading activities in billet slowed in SE Asia this week after Chinese traders raise prices and cut down billet supplies. This is on anticipation that Chinese domestic billet prices may increase post Chinese Lunar New Year ending on 21st Feb 2018.
Current offers from China for 150*150mm billet are assessed at around USD 520-530/MT FOB China main port, which is equivalent to USD 535-540/MT CFR SE Asia. .
Some deals from Iran were reported to SE Asia at around USD 525-530/MT CFR in first week of Jan.
SAIL cancels its 150*150 mm billet export tender amid low bids – Sources
The tender put up for Prime Mild Steel Non-Alloy Concast billets (150*150mm) offered from IISCO Steel plant has following specifications – C-0.17-0.23%, Mn-0.5-0.9%, S-0.05% max, P-0.05% max and Si – 0.10-0.35%.
As per sources, the steel mill has cancelled the tender amid low bids received than expectations. The highest bid fetched was around USD 480-490/MT, FoB India, mentioned sources.
On the other side, domestic billet prices in India are hovering around INR 31,800-32,000/MT (USD 500-503) in Durgapur.
Vizag Steel cancels billet export tender – Sources
Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel had issued a tender for export of 10,000 MT billet, 20,000 MT Blooms, 10,000 MT Rounds, 3,000 MT Angles and 2,000 MT Beams.
The 10,000 MT billet offered was of grade IS 2830 C20MMn Gr.A of size 90*90mm and bloom offered was of grade IS 2830 C20MMn Gr.A of size 150*150mm. The material specification were as – C-0.17 – 0.23%, Mn -0.60 – 1.00%, Si – 0.15–0.35 %Max, S-0.045% Max and S-0.050% Max. The material delivery was scheduled between 15-31 Mar’18.
According to the latest update received from market participants, the steel maker has cancelled the billet export tender as bids received were lower than the expectation which was around USD 520-525/MT, FoB India.
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