India's Vizag Steel Concludes 30,000 MT Billet Export Tender - Sources
Rashtriya Ispat Nigam Limited (RINL)- state-owned steel maker under the Ministry of Steel, had invited tender for export of 10,000 MT Billets and 40,000 MT Blooms for mid Jan'19 shipments. The bid due date was till 06 Dec’18 however offer validity was till 13 Dec’18.
According to market sources report to SteelMint, the company has concluded 15,000 MT billet export tender of size 150*150mm (high grade) at around USD 430-435/MT FOB and for 150*150 mm (low grade) at around USD 425-430/MT, FoB.
Global billet export market overview - Week 50, 2018
1. Domestic billet prices in China moved up towards end of this week following gains in futures market over announcement of steel capacity cuts in Tangshan and Xuhzou. Current assessment for billet stands around RMB 3,370/MT (including VAT).
2. Billet export offers from CIS nations stand around USD 420-425/MT, FoB Black Sea.
3. Trade sentiments continue to remain weak in SE Asian regions, with buying interest at levels of USD 450-455/MT, CFR SE Asia for Billets of CIS origins.
4. Billet export offers from Iran have come down further by USD 10/MT W-o-W and current assessment stands at around USD 390-395/MT, FoB.
5. Domestic billet prices in India are assessed around INR 33,200/MT (USD 462) in Mumbai, GST extra fo
source: SteelMint
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