India: Vizag Steel Concludes 30,000 MT Bloom Export Tender
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Rashtriya Ispat Nigam Limited (RINL) - a state owned steel maker under the Ministry of Steel, had invited two tenders for export of 15,000 MT Blooms (150*150mm) each.
Due date of the tender was 08 Nov'18 and the last date of delivery period is 15 Dec'18.
According to market sources report to SteelMint, the tender fetched participation from about 3 companies and has been finalized at around USD 457-460/MT, FoB India. The cargo is likely to be shipped to Philippines or Indonesia.
Specification of material offered in RINL's tender:
| Product | Size (mm) | Grade | Chemical Specifications | Quantity (MT) |
| Bloom | 150*150 | IS 2830 C20 MMn Gr A | C-0.17-0.23%, Mn-0.6-1%, Si:0.15-0.35% max, P-0.045% max, S-0.045% max | 15,000 |
| Bloom | 150*150 | IS 2830 Gr A | C-0.12-0.23%, Mn-0.3-1.5%, Si:0.4% max, P-0.045% max, S-0.045% max | 15,000 |
Prior to this, the company had invited a tender for export of 10,000 MT Billets (90*90mm, IS 2830 C20 MMn Gr A) and 20,000 MT Blooms (200*200mm, IS 2830 GrA). However the minimum quantity in both tenders was 10,000 MT. The bid due date was 24th Oct'18 which was later extended till 30th Oct'18. According to market sources report to SteelMint, the company has concluded 10,000 MT Blooms (200*200mm, IS 2830 GrA) deal at around USD 450-460/MT, FoB.
Global Billet market overview:
1. Global billet export offers may find some support on stronger global scrap prices. Assessment is around USD 460-470/MT, FoB Black Sea.
2. Chinese billet prices in domestic market has come down sharply since beginning of the month amid steep fall in futures and decline in rebar prices. Domestic billet prices are assessed at RMB 3,690/MT (ex-works).
3. Though no export deals from China were heard but assessment stood around USD 500-505/MT, FoB towards end of last week.
4. Iran billet export price assessment stands at USD 430-440/MT, FoB.
5. Domestic billet prices in India have come down over weak finish long steel market. In Mumbai, prices are assessed at around INR 34,100/MT (USD 474) for 125*125mm, GST extra.
