India: Vizag Steel Concludes 40,000 MT Billet & Bloom Export Tender

Rashtriya Ispat Nigam Limited (RINL) - a state owned steel maker under the Ministry of Steel, had invited a tender for export of 30,000 MT Blooms (150*150mm IS 2830 Gr A & IS 2830 C2- MMn Gr A) and 10,000 MT Billets (77*77mm, 65*65mm IS 2830 Gr A). Bid due date was till 04 Mar'19 and bid validity was till 11 Mar'19. As per the delivery schedule, last date of shipment is till 10 Apr'19 for 65*65 mm billets and 31st March for remaining lots.

The material offered IS 2830 Gr A had specifications--C-0.12-0.23%, Mn- 0.3-1.5%, Si-0.4% max, P-0.045% max & S-0.045% max. The material offered IS 2830 Gr A had specifications--C-0.17-0.23%, Mn- 0.6-1%, Si-0.15-0.35% max, P-0.045% max & S-0.045% max

According to market sources report to SteelMint, the company has concluded all the lots offered in the tender at around USD 450/MT, FoB.

Another Indian state owned mill had floated export tender for 18,900 MT billet of size 150*150mm. As per sources, the tender received decent response from bidders and has been concluded the tender at around USD 455-460/MT, FoB Haldia.

Billet export offers from CIS nations have moved up by USD 5/MT W-o-W following hike in global scrap prices. SteelMint's assessment for Russian billet is around USD 455-460/MT, FoB Black Sea. Following this billet import assessment to SE Asia has also increased to USD 485/MT, CNF.