India: SAIL Floats 18,900 MT Billet Export Tender

Steel Authority of India - a government of India Company has invited an ocean export tender for billets from its Durgapur Steel plant. The tender quantity is reported to be 18,900 MT billets (Prime Mild steel and non alloy concast) with size 125*125 mm having specifications; C-0.27-0.32%, Mn-0.70-0.90%, S-0.05% max, P-0.05% max and Si - 0.15-0.35% . The cargo will be shipped from Haldia port. The last date for bid submission is 31 May'19 by 16:00:00HRS [IST] and material shipment schedule is by 31 Jul'19

Global Billet market overview: Last week, Turkey's increased scrap import prices are driving the trade sentiments across the globe. Also, US tariff cuts on steel imports from Turkey has started strengthening the trade sentiment in CIS nations, effects can be witnessed with last week billet export indications from CIS nations, which was reported to be USD 4305-435/MT, FoB Black Sea. This is higher against last week offers of USD 410-415/MT, FoB Black Sea.

SteelMint's assessment for Indian billet export stands at around USD 420-425/MT, FoB India.