Steel Authority of India Ltd (SAIL) has concluded an export tender of 17,000 MT blooms, according to market participants.
SAIL had floated a tender of 15,000-17,000 MT bloom, which expired on 5 Aug’16 on FoB Haldia basis. According to sources, there were 4-5 participants and highest bid was around USD 312-315/MT, FoB Haldia Port. This is equivalent to USD 317-320/MT, FoB Vizag Port.
SAIL officials were unavailable for the comments.
Last tender by Vizag Steel was concluded at USD 305/MT, FoB Vizag Port in last week of Jul’16.
Global billet prices have increased owing to limited offers from Chinese suppliers. Chinese government is probing investigation on tax rebates enjoyed by Chinese steel makers by exporting billet in the name of square bars.
Global billet prices (in USD/MT) as on week 33 (8-14 Aug’16)
| Particular | Grade | Delivery | Prices | 1W | 1M |
| India Export | 150 X150 mm | FoB India | 315-320 | 305-310 | 305 |
| Ukraine Export | 125X125 mm, 3sp | FoB Ukraine | 320-325 | 315-320 | 315 |
| Turkey Import | 125X125 mm | CNF Turkey | 335-340 | 330-335 | 330 |
| China Export | 150X150 mm,Q235 | FoB China | 325-330 | 315-320 | 315 |
| Bangladesh Import | 150X150 mm | CNF Bangladesh | 330-335 | 320-325 | 310 |
Prices in USD/MT
Source: SteelMint Research
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