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Indian Billet Exports Gather Momentum; Offers Approximately 150,000 MT In The Market

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BigMint Bureau

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8 Apr 2020, 15:12 IST

Indian Billet Exports Gather Momentum; Offers Approximately 150,000 MT In The Market

The swift increase in COVID-19 cases has led India to enforce the lockdown. This has resulted in trade silence in the domestic market. And hence, the steel mills have now turned towards exports and are largely dependent upon China for trades. As per market sources, the billet export offerings from the Indian major mills are as below-

-- Vizag Steel: The company has floated a tender in recent for 30,000 MT quantity, 150*150mm size, and 3SP Grade. The shipment is scheduled for 25 May'20. The tender due date is 15 Apr'20.

-- SAIL: The company had floated tender for 18,900 MT billet (150*150mm) offered from the IISCO Steel plant. The cargo will be shipped from the Haldia port.

The material offered is 4SP / 5SP. It has the following specifications - C%: 0.17-0.23, Mn%: 0.6-1.0, S%: 0.05 Max, P%: 0.05 Max, Si%: 0.10-0.35 OR C%: 0.27-0.32, Mn%: 0.7-1.0, S%: 0.05 Max, P%: 0.05 Max, Si%: 0.10-0.35. There were quite hearsays about the billet export tender, which the company had floated during last week. If sources, to be believed, the company has concluded the tender. However, it could not be confirmed till the time of publishing this report.

-- Electrosteel: The company was offering one parcel of nearly 40,000 MT billets of 150*150mm size. According to sources reported to SteelMint, the company has concluded the tender but price levels could not be confirmed.

-- JSPL: The company is offering 30,000 MT billets for exports.

-- JSW; The company was reported to book 10,000 MT billets of size 165*165mm at USD 365-370/MT, on FoB basis.

SteelMint's current billet export assessment for 150*150mm billet stands at USD 350/MT, FoB India. It would be interesting to see if the sharp rebound in Turkish scrap prices, supports billet prices as well. Notably, Turkish imported scrap prices have rebounded by USD 25/MT in the last couple of days. Tight availability and lower collection rates have pushed up the prices, however weak steel demand continues to remain a concern.