Indian Billet Export Prices Remain Stable in Recent Tenders Concluded
Rashtriya Ispat Nigam Limited (RINL)- the state-owned steel maker under the Ministry of Steel, had invited a tender for export of 30,000 MT billets of sizes 90*90, 77*77 & 65*65mm. Each billet lot offered was of 10,000 MT each. The material delivery is scheduled by 30 Apr'19.
In the latest update received by SteelMint, the company is learned to have concluded the tender for the lots comprising of size 77*77 and 65*65mm (grade IS 2830 Gr A) at around USD 455-458/MT, FoB. However the 90*90mm tender stands cancelled and company plans to re-issue it for Nepal market.
Another govt. owned steel mill had floated billet (150*150mm) billet export tender for 24,300 MT quantity. The tender fetched decent response with highest bid at around USD 455-460/MT, FoB.
Global billet market overview:
1. Billet export offers from CIS nations are assessed around USD 440-445/MT, FoB Black Sea.
2. SE Asia billet import price assessment is at USD 475-480/MT, CFR.
3. Domestic billet prices in India is around INR 33,200/MT (ex-Mumbai), GST extra.
4.Iran billet export trades remained slow amid religious holidays to mark beginning of new Iranian year
source: SteelMint
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