Vizag steel has concluded 20,000MT 150x150MM billet export tender which expired on 20 Jan’ 17.
Tender noticed participation from two companies, eventually at same the price of USD 397.5/MT FOB Vizag port.
Later it was finalized through a lucky draw.
Global Billet Prices Drop
Seaborne billet offers noticed a sharp fall, which is in line with falling scrap prices, which have corrected over USD 30/MT this week.
Export offers from CIS region has heard being dropped to USD 370-375/MT FOB Black Sea, which was at USD 385-390/MT FOB Black Sea last week.
Chinese suppliers remain out of the market due to upcoming lunar new year. However it is expected that Chinese prices will fall once market reopens in China.
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