Indian Slab Export Tender Fetches High Bid on Active Buying Interest

Recent Indian slab export tender managed to fetch bids higher by USD 5/MT against the previous tender. An Indian mill had floated an export tender for 30,000 MT Mild Steel Concast Slab of grade Q235B/SS400.

Trade sources stated that the tender has fetched bids at around USD 365-370/MT FoB, higher by USD 5 against the previous tender. The material shipment is scheduled for mid Jul'20 and the cargo will be shipped from east coast of India.

A week back, an Indian slab export tender floated for similar quantity fetched bids at USD 360-365/MT FoB. Active Chinese buying interest has led to resumption of slab exports from India.

Recent slab export deals concluded :

- A deal for 40,000 MT Japanese slab was reportedly concluded at USD 375-380/MT, CFR China

- An Iranian mill concluded 30,000 MT slab export deal at USD 342/MT, FoB for July shipment. The cargo is likely to be shipped to China.