SteelMint has heard from its market sources that SAIL has canceled its plates export tender of 15,000 MT on account of low bids received from the participants.
The company received bids at around USD 370-375/MT, FoB India whereas its expectations were around USD 400/MT, FoB India.
On 11 Aug’16, SAIL has floated a global tender for export of prime mild steel hot rolled plates of 10,000-15,000 MT quantity. The material was of of ASTM A36 grade or equivalent, ship building quality with size ranging between 10-63 mm.
Last Tender also Remains Unawarded
On 18 June’16, the company had floated global export tender for 10,000 MT prime mild steel hot rolled plates. However the same remained unawarded as the bids received were lower than expected. Bids received were at USD 353/MT, FoB Vizag Port, and the expected price bid by the company was around USD 390/MT, FoB Vizag.
Plates Prices
Current prices for commercial-grade plates (16-20mm) in India’s domestic market are assessed at INR 29,000-29,500/MT (ex-works), excluding excise of 12.5%, unaltered against last week.
Plates export offers from China are currently assessed at USD 365-370/MT, FoB basis, up by USD 5/MT and CIS-origin plates are being heard at USD 350-390/MT, FoB Black Sea.
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