India: Vizag Steel Concludes 20,000 MT Billet Export Tender
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Rashtriya Ispat Nigam Limited - a government of India Enterprise, has concluded the billet export tender for 20,000 MT (150*150mm) quantity recently, sources reported to SteelMint. Last date for bid submission was 11 Jun'19. As per sources, the tender has been concluded at around USD 435/MT, FoB India. The material shipment is to be made by mid Jul'19.
Initially the company had invited the bids for 50,000 MT quantity, but ended by concluding for 20,000 MT only of size 150*150 mm. Limited participation was witnessed, due to which company had to cancel other lots of this tender.
Below are the tender details
| Product | Grade | Size (MM) | Quantity | Result |
| Billets | IS 2830 Gr A C20 MMn | 90 X 90 | 10000 MT | Cancelled |
| IS 2830 Gr A | 77 X 77 | 10000 MT | ||
| IS 2830 Gr A | 65 X 65 | 10000 MT | ||
| Blooms | IS 2830 Gr A C20 MMn | 150 x 150 | 5000 MT | Concluded, around USD 435/MT, FoB |
| IS 2830 Gr A | 15000 MT |
In May'19, the company had concluded the billet export tender for 30,000 MT (150*150mm) quantity. The trade value was reported to be around USD 420/MT. FoB.
Billet market overview:
- CIS nations billet export offers remained unchanged this week and are reported at USD 425-430/MT, FoB Black Sea.
2. Offers from CIS nations to Thailand were assessed around USD 450/MT, CFR Thailand and that to Philippines are learned around USD 455-460/MT, CFR Manilla.
3. Indian domestic billet prices assessed at around INR 31,200/MT (USD 447/MT) (ex-Mumbai), for 100*100mm billet, GST extra.
