India: SAIL Floats Export Tender for 18,900 MT Blooms

Steel Authority of India - a government of India company has floated an export tender for prime mild steel non-alloy concast blooms. The tender quantity is reported to be 18,900 MT. The cargo will be shipped from the Haldia port. The tender put up is for size200*280mm offered from the IISCO steel plant.

The material offered has following specifications – C: 0.14-0.20%, Mn: 0.40-0.70%, S: 0.05% Max, P: 0.05% Max, Si: 0.10-0.35 %.

The said invitation bid service has been activated by SAIL for entry of data at 13:30:00 HRS [IST] of 05 Mar’20. The last date for bid submission is 09 Mar’20 by 16:00:00HRS [IST].

After posting trade silence during last week, this week global market witnessed a couple of deals in the Philippines from Japan. In recent, Japan is noted to book two billets of quantity; 12,000 MT and 10,000 MT approximately. The deal value was reported to be USD 408/MT, CFR and USD 400/MT, CFR. With these bookings, billet import offers in the SE Asian market were expected to witness a fall.

It is also worth noting that, global billet market is still battling with the epidemic and is struggling to regain the moment after the Chinese New Year Holidays.

CIS billet export price assessment for this week is at USD 390-395/MT, FoB Black Sea. While Iranian mills are targeting price levels of USD 390/MT, FoB for the recent floated bloom tender of quantity 30,000 MT.