India’s leading steel producer, Vizag Steel, has concluded an export tender for 20,000 MT billet (150X150 mm) on 16 Feb’17 for March shipment.
According to sources, the tender attracted 3 participants. The highest bid received was at USD 390/MT and the tender have been concluded at the same price bid and the cargo is likely to be shipped to South East Asian countries.
It is to be noted that the tender attracted bids higher than previous tender due to higher Chinese billet prices. In addition, material from CIS nations is already booked till March.
The highest bid (H1) received was at USD 390/MT, FoB, followed by USD 386-387/MT, FOB Vizag Port.
Notable, the company had issued this export tender for 30,000 MT billet in the month of Jan’17 and awarded at USD 397.5/MT, FOB India. But tender awardees failed to submit the bank guarantee (BG) on time. Hence, the company has canceled the tender and re-issued the tender with scheduled technical bids to close on 16 Feb’17.
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