India’s SAIL Billet Export Tender Receives Good Response – Sources
Mining News Pro - Steel Authority of India - a government of India company had floated export tenders for 16,200 MT billet. The tender put up for Prime Mild Steel Non-Alloy Concast billets are 5,400 MT (125*125mm) offered from Durgapur Steel plant and 10,800 MT (150*150mm) from IISCO Steel plant and has following specifications - C-0.17-0.23%, Mn-0.5-0.9%, S-0.05% max, P-0.05% max and Si - 0.15-0.35%.
The length of the billets is 9-12 metres. Due date for bid submission was on 27 Jul’18. The material shipping is scheduled within 25 Sep`18 from Haldia port.
According to market sources report to SteelMint, the tender received good response with participation from about 3-4 companies. Highest bid fetched was around USD 505/MT, FoB India. However the tender has not been concluded yet.
In another deal reported last week, a private mill sold around 25,000-30,000 MT billets (150*150mm, 4 SP grade) at around USD 520-530/MT, FoB India. The cargo is likely to be shipped to SE Asian countries.
Global billet market overview-
Billet export offers from CIS nations are assessed at USD 495-500/MT, FoB Black Sea. Though Chinese billet export offers were not heard but assessment stands around USD 525/MT, FoB. Chinese domestic billet prices have increased throughout last week. Spot price of 150*150mm, Q235 billet in Tangshan stood at RMB 3,880/MT (including VAT) against RMB 3,800/MT (including VAT) a week ago.
