India: Vizag Steel may Float Billet Export Tender in July

Vizag Steel may come up with billet export tender in July for August shipments. This will be for 150*150 mm sized billets. Last tender for this size was closed in the month of Mar'17. According to sources, the tender attracted 3 participants. The highest bid received was at USD 405/MT.

Vizag Steel is one of the largest billet exporter from India. Indian billet exports have registered a sharp increase in FY17 (Apr'16 to Mar'17), according to data maintained by SteelMint. The total export of semi finished goods under chapter 7207 was 1.94 MnT as compared 0.97 MnT in FY 16. Out of total exports 35.71 % was made to Nepal followed by Bangladesh (20.80%) and Thailand (8.50%).

Company was supposed to come up with export tender in June for July shipments but due to some maintenance work company may have to extend it to July.

Indian billet export offers are hovering at around USD 404/MT FOB India for 150*150 mm, however no fresh trades have been reported.