SteelMint has heard from market sources that SAIL has cancelled its Slab export tender of 14,000MT on account of lower bids received. Company was expecting bids around USD 420/MT,FoB basis.
On 9th Feb 2017 Steel Authority of India Limited (SAIL) floated a global tender for the export of prime mild steel non-alloy con-cast slab of 13,500-14,000 MT quantity. The material to be exported was of grade EN 10025 S235 and EN 10025 S275JR.
However, bids received was lower as compared to company expectations, therefore, the company may re-float the tender or may conclude the deal off the tender.
Global Slabs Market :
Brazil being the major exporter of slabs have exported 0.69 MnT of Slabs in Jan’17, surge by 19% against Dec’16.As slab export offers from Latin America are assessed in the range of USD 425-430/MT, FoB basis. Whereas import offers from South East Asian Countries are in the range of USD 430/MT,CFR basis.
However, slab export offers from CIS countries are hovering in the range of USD 400-410/MT on FoB basis.
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