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

Steel Authority of India - a government of India company has floated export tender for prime mild steel non alloy concast billets. The tender quantity is reported to be 18,900 MT. The cargo will be shipped from Haldia port. The tender put up is for size 150*150mm offered from IISCO Steel plant.

The material offered is 4 SP /5 SP. It has following specifications - C%: 0.17-0.23, Mn%: 0.6-1.0, S%: 0.05 Max, P%: 0.05 Max, Si%: 0.10-0.35 OR C%: 0.27-0.32, Mn%: 0.7-1.0, 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 15:00:00 HRS [IST] of 14 Feb'20. The last date for bid submission is 18 Feb'20 by 16:00:00 HRS [IST].

After remaining quiet from past couple of weeks, the global billet market sentiments have started strengthening over rise in billet export/import offer from/in all the major billet trading nations, as global scrap prices have marked a sharp W-o-W jump of USD 15/MT this week. Few billet import deals were also reported in SE Asian region from Iran. However, Far East markets are still trade inactive amid corona virus outbreak.

CIS billet export price assessment witness a rise of USD 5-10/MT this week and is at USD 385-390/MT, FoB Black Sea. Iranian major mills are targeting price levels of USD 380/MT, FoB.