India’s govt. owned steel maker – Steel Authority of India Limited (SAIL) had floated export tender for 24,300 MT Prime Mild Steel Concast Billets from its IISCO plant. The material offered was of size 150*150mm and had specifications as follows: C – 0.17-0.23%, Mn – 0.5-0.9%, S-0.05% max, P-0.05% max and Si – 0.10-0.35%.
The bid due date was 20 Feb’19 and the bid validity was till 25 Feb’19. The material shipment is scheduled by 31 Mar’19 from Vizag port.
According to market sources report to SteelMint, the company fetched very good response with highest bid around USD 465-470/MT, FoB Vizag.
Other Billet export tenders in pipeline:
1. SAIL has issued another export tender for 16,200 MT for 125*125mm Concast Billets. The tender due date was on 25 Feb’19 and validity is till 28 Feb’19.
2. Vizag Steel invited tender for export of 8,127 MT Billets (90*90mm , IS 2830 C20MMn) to Nepal. The tender due date was 26 Feb’19 and bid validity till 05 Mar’19.
Global Billet market overview:
1. Global Billet export market sentiments turn weak on soft demand & falling scrap prices. Russian offers around USD 450/MT, FoB Black Sea, down by USD 10/MT W-o-W.
2. Billet import price assessment from CIS to SE Asia is assessed around USD 475-485/MT, CFR basis.
3. Iranian billet export offers fell USD 10/MT W-o-W to USD 390-400/MT, FoB.
Leave a Reply