India: Vizag Steel Concludes 15,000 MT Billet Export Tender
Rashtriya Ispat Nigam Limited (RINL)- the state-owned steel maker under the Ministry of Steel, had invited tender for export of 10,000 MT Billets and 40,000 MT Blooms. Bid due date was till 04 Jan’19 and bid validity was till 11 Jan’19.
As per the delivery schedule, last date of delivery period shall be 15 Feb’19.
According to market sources report to SteelMint, the company has concluded the 15,000 MT bloom (150*150mm, IS 2830 C20 MMn Gr A). The tender was heard to be concluded at USD 414-417/MT, FoB India. The material had specifications -- C: 0.17-0.23%, Mn: 0.6-1%, Si-0.15-0.35%, P:0.045% max, S:0.045% max.
As per sources, tender for other offered lots of sizes 200*200mm bloom did not manage to fetch bids so was thus cancelled. Also ocean export tender for 90*90mm billet remained un-awarded as the company was heard to have fetched better response in export tender for Nepal.
Global Billet Market overview:
1. Global billet export offers remain weak. Offers from CIS nations is heard around USD 395-400/MT, FoB Black Sea
2. Vietnam's domestic mill - Formosa Ha Tinh is heard offering billets at USD 430/MT, FoB which is equivalent to USD 435-440/MT, CFR south Vietnam.
3. Billet export offers from Iran moved down last week and was assessed at USD 370-380/MT, FoB Iran.
4. Domestic billet (100*100mm) offers in India are assessed around INR 33,100/MT (USD 465) (ex-Mumbai), GST extra
5. Domestic billet prices in China have weakened after observing a hike on Monday. Current billet prices in Tangshan (China) is around RMB 3,380/MT ex-factory, including tax ; down RMB 30/MT against yesterday's close.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
