SAIL’s export tender of MS plates floated on 18 Jun’16, fetched bids lower by USD 20-30/MT as compared to last tender which was floated on 1 Jun’16.
Tender Details
On 18 Jun’16, Steel Authority of India Limited (SAIL) had floated a global tender for the export of prime mild steel hot rolled plates of 10,000 MT quantity.
The material was of ASTM A36 grade or equivalent, shipbuilding quality with size ranging between 10-63 mm. The bids for the same opened from 23 Jun’16 till 25 Jun’16.
Response
The company received participation from two to three parties and the bids were received at USD 353/MT, FoB Vizag basis. However, the expected price bid by the company was around USD 390/MT, FoB Vizag. Since, the bid received was lower than the expected price, company didn’t conclude the deal and the tender remained unawarded.
Last export tender remained unawarded
On 1 June’16, the company floated last export tender for 5,000-10,000 MT prime mild steel hot rolled plates. However, the company failed to conclude the tender as the bids received were lower than the expected price quotation from the interested parties.
Falling Prices in China
China’s plates export prices are falling on a weekly basis amid weak buying interest amongst overseas buyers. Currently plates offers from China are being hear at USD 330-335/MT, FoB China basis. Indian export plates offers are much higher than what Chinese mills are offering resulting in India’s plates export tender going unawarded.
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