India: Vizag Steel Billet Concludes 25,000 MT Billet Export Tender

Rashtriya Ispat Nigam Limited (RINL) also known as Vizag Steel had floated a tender for export of 40,000 MT billet and bloom. The steel maker had floated tender for billet : 65*65mm (10,000 MT), 75*75mm (10,000 MT) and bloom 150*150mm (5,000 MT), 200*200mm (15,000 MT).

The material delivery for bloom is 31 Mar'18 and 24 Apr'18 for billets.

Last week SteelMint reported that the steel maker has concluded the tender for 65*65mm at around USD 535/MT, FoB India.

In the latest update received, the steel maker has also concluded the export tender for 150*150mm at around USD 515-520/MT, FoB India and 75*75mm billet around USD 520-525/MT, FoB India.

However the tender for 200*200mm bloom has not been concluded yet and is under negotiations.

Global Billet Market Overview:

1. Global billet export offers have increased further amid short supply. Billet export offers from CIS nations increased to USD 545-550/MT, FoB Black Sea.

2. Billet import offers to SE Asian nations assessed at USD 565-575/MT, CFR.

3. Chinese domestic spot billet prices for 150*150mm billet in Tangshan is seen at RMB 3,630/MT (17% VAT included), down against RMB 3,670/MT assessed in end of last week.

4. Iran's KSC has issued tender for 30,000 MT billet and 40,000 MT slab. The due date for bid submission is 16 Mar'18. Iran billet export price assessment stands at USD 520/MT, FoB.