Indian Billet Export Tender Receives Decent Response - Sources

A govt. owned steel mill had floated a tender for export of 16,200 MT prime mild steel non-alloy concast billet of size 125*125mm and length 9-12 metres. The material offered had specifications as follows: C-0.27-0.32%, Mn-0.7-0.9%, S-0.05% max, P- 0.05% max and Si 0.15-0.35% max.

The material shipping is scheduled by mid of May from eastern India port.

According to market sources report to SteelMint, the tender received participation from about 4 companies and highest bid was heard to be in the range of USD 455-460/MT, FoB India.

Global billet market overview -

1. Billet export offers from CIS nations are assessed around USD 455/MT, FoB Black Sea.

2. SE Asia billet import price assessment is at USD 480-490/MT, CFR.

3. Indian billet export offers to Nepal are assessed at USD 485-490/MT, landed Raxaul border.

4. Domestic billet prices in India is around INR 33,300/MT (ex-Mumbai), GST extra.