Vizag Steel (Rashtriya Ispat Nigam Ltd), a state-owned and one of the largest steel mills in the country with an annual capacity of 6.3 MnT, has kept its billet offers unchanged for May deliveries.
According to a circular released by the company, billet of 100*100 mm is being offered at INR 25,500/MT (ex-works) and 150*150 mm at INR 23,500/MT (ex-works).
Vizag Steel fetches higher realization in export market
Vizag Steel has received overwhelming response for its recent billet export tender. 150*150 mm billet deal was concluded at USD 363/MT (INR 23,600/MT) and 100*100 mm billet deal was settled at USD 358/MT (INR 23,270/MT) in the month of April.
Another tender of 30,000 MT, which is yet to conclude, has received bids at around USD 380/MT (INR 24,700/MT).
Domestic prices unchanged on subdued demand
Domestic prices have remained stable amid weak demand. Participants mention that buyers prefer to buy local billet at a lower price. For instance, 100*100 mm billet in local market is priced at INR 24,000/MT (ex- Hyderabad), whereas, the same size material by Vizag Steel is being offered at a cost of INR 27,500/MT (ex-Hyderabad).
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