SAIL Floats Tender to Export 10,000 MT HR Plates

Steel Authority of India Limited (SAIL) has floated a global tender for the export of prime mild steel hot rolled plates of 5,000-10,000 MT quantity.

Steel Authority of India Limited (SAIL) has floated a global tender for the export of prime mild steel hot rolled plates of 5,000-10,000 MT quantity.

The material will be of ASTM A36 grade or equivalent, shipbuilding quality with size ranging between 10-63 mm. Export duty as applicable in sellers country shall be borne by the seller and other duties payable shall be borne by the buyer. Bids for the same will be open on 07 June’16.

Prices should be quoted on FoB,Vizag basis. Also, on the closure of deal with the concerned party, the shipping of the material will commence from 31 Aug’16. Prices are to be quoted per MT basis for all the markets other than Nepal, Canada, and Taiwan.

Last export tender failed to receive bids

On 10 May’16, the company floated last global export tender for 5,000-15,000 MT prime mild steel hot rolled plates. As per market sources, the company had failed to receive response for its global export tender because the tender had not received the expected price quotation from the interested parties. However, prior to this, company’s 10,000 MT plates export tender floated on 16 Apr’16 was concluded at USD 420-425/MT FOB, India.

HR Plate market scenario

Currently, HR plates prices have been unchanged since starting of May month. Demand outlook is dull and prices are not likely to increase further from manufacturers end. In fact, traders are selling plates at discounted rates in the secondary market in order to clear their excess stock purchased in March 2016.

Also, Indian manufacturers have concluded some deals for high tensile plates (S355) at USD 490/T FOB.

Currently, Indian plates prices of commercial grade (base size 16-20 mm) are being assessed at INR 31,500-32,000 (ex-works basis). Domestic plates prices have been unchanged since the start of May month amid sluggish demand. Chinese plates export offers are heard to be in the range of USD 345-350/MT, FoB China.