India’s largest steel manufacturer, SAIL (Steel Authority of India Limited) has failed to receive response for its global export tender of 15,000 MT plates floated on 10 May’16 (closed on 16 May’16).
On 10 May’16, the company floated a global tender for the export of prime mild steel hot rolled plates of 5,000-15,000 MT quantity. The material was of ASTM A36 grade or equivalent, ship building quality with size ranging between 10-63 mm.
The key reason of tender being not concluded is that it might not have received the expected price quotation from the interested parties.
In case of last export tender floated by SAIL for 10,000 MT plates on 16 Apr’16, the company concluded the tender at the rate of USD 425/MT, FoB Vizag basis.
As per market sources, although in this latest tender, it was expecting bids at the rate of USD 410/MT, FoB basis, buyers bid for prices lower than the expected levels.
Currently, Indian plates prices of commercial grade (base size 16-20 mm) are being assessed at INR 31,500-32,000 (ex-works basis). Chinese plates export offers are heard to be in the range of USD 380-385/MT, FoB China.
Leave a Reply