Indian billet export price assessment for bulk shipments increase this Week amid recent export tender. Current prices for 90*90 mm billet (C-0.17-0.23%, Mn-O.6-1%, Si-O.15-0.35% max, P-0.045% max & S-0.05% max) are assessed at USD 525-530/MT FoB against USD 520-525/MT FOB last Week.
Recent export tender by a state owned mill for 15,000 MT billets of size 90mm for October end shipment heard to have fetched highest bid in the range of USD 525-527/MT FOB, India east coast. However company officials were unavailable for Comments.
According to market participants, this tender is likely to get concluded as highest bid is at par With Company’s expectation.
Another lot of30,000 MT billets of 150*150 mm heard to received bids lower by USD 10/MT as compared to 90%90 mm. According to market participants, company has not concluded this tender yet.
Global billet export prices have been increasing consistently on absence of Chinese cargoes and skyrocketing graphite electrode prices.
Last Week some Indian induction furnace manufacturers have concluded bulk billet export deals, which is unusual.
Indian billet exports increased nearly two fold in H1 CY17 and Was recorded at 1.29 MnT compared to 0.76 Mn.T in the same time period last year.
Source Steel Mint powered by Keyvan Jafari Tehrani (JTC)
