JSW Steel, India’s largest private steel producer, has exported another vessel of billet (165*165mm) to Bangladesh in Aug’16.
Vessel Jupiter Charm has expected to reach Chittagong port on 23 Aug’16. Cargo has heard to be bought by BSRM, one of the largest re-roller based in Bangladesh, at around USD 310/MT, FoB Indian West Coast in July end/ early August, according to market participants.
In the month of August, JSW Steel had exported first lot of 27,000 MT billets to Bangladesh.
Bangladesh based re-rollers have increased their sourcing from India on account of higher offers from Chinese suppliers.
India exports around 1 MT of billet, bloom and Slab, out of which 50% is exported to Bangladesh.
Bangladesh imports around 1.5-2 MnT of billet annually, but with increasing steel melting facilities in the country, import of scrap will multiply 5 times in coming years.
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