India: Vizag Steel Concludes 30,000 MT Bloom Export Tender

Rashtriya Ispat Nigam Limited (RINL)- the state-owned steel maker under the Ministry of Steel, had invited tender for export of 10,000 MT Billets (90*90mm) and 40,000 MT Blooms (150*150 and 200*200mm). Bid due date was till 23 Jan'19 at 15:00 hrs with bid validity till 30 Jan'19. As per the delivery schedule, last date of delivery period shall be 28 Feb'19.

According to market sources report to SteelMint, the company has concluded the tender of 2 lots for 15,000 MT bloom (IS 2830 GR A andIS 2830 C20MMn GR A) each. The tender was heard to be concluded at around USD 415/MT, FoB India. The material had specifications -- C: 0.17-0.23%, Mn: 0.3-1.5%, Si-0.15-0.40%, P:0.045% max, S:0.045% max.

However tender issued for 90*90 mm billet and 200*200 mm bloom stands cancelled.

Global Billet Market overview:

1. Global billet export offers have moved up amid hike in global scrap offers and limited billet availability in global market. Offers from CIS regions are around USD 415-420/MT, FoB Black Sea

2. Billet export offers from Iran moved down to USD 330-340/MT, FoB.

3. Domestic billet (100*100mm) offers in India are assessed around INR 33,400/MT (USD 469) (ex-Mumbai), GST extra

4. Domestic billet prices in China have remained rangebound amid limited trades ahead New year holidays. Current billet prices in Tangshan (China) is around RMB 3,430/MT ex-factory, including tax

According to data maintained with SteelMint, India exported 2.2 MnT billets during Jan-Nov'18. Major destinations were Nepal, Philippines, Indonesia, Thailand and Italy.