Steel Authority of India (SAIL) had floated a tender for export of around 18,000 MT billets. 8,100 MT billets offered were of size 150*150 mm from its IISCO Steel plant and 10,800 MT billets offered were of size 125*125 mm from its Durgapur Steel Plant.
The billets offered were of specification 4 SP.
According to market sources report to SteelMint, the company received bids around USD 475-480/MT, FoB India levels.
If market sources are to be believed the company seems to have cancelled the export tender as they were expecting higher bids.
The company had also floated export tender for rectangular blooms. As per market sources, the tender received bids around USD 465-470/MT, FoB. However the company is eyeing for price level of USD 500/MT, FoB.
Global billet export offers fall – Following plunge in scrap prices and softening market sentiments, global billet export offers have come down this week by about USD 5-10/MT W-o-W.
Billet export offers from CIS nations are around USD 515-523/MT, FoB Black Sea.
Assessment for billet import to South East Asia stands at USD 535-540/MT, CFR.
Source Steel Mint powered by Keyvan Jafari Tehrani (JTC)
