Indian Mill Cancels 30,000 MT Bloom Export Tender Amid Low Bids - Sources

A public sector unit had floated an ocean export tender for blooms of quantity 30,000 MT (4SP grade) and 150*150mm size. Initial tender due date was 04 Feb'20, but due to dull response the company had extended the due till 07 Feb'20.

As per sources, the company fetched highest bid of USD 390/MT, FoB.

According to sources, the company is likely to cancel the tender as the fetched bid is marginally lower than the company's expectations.

Last week global billet market recouped from dull sentiments following hike in scrap offers. After remaining silent for couple of weeks, trade activities resumed this week with positive correction in offers from/in all the billet trading nations amid increased global scrap prices

SteelMint's billet export assessment from CIS nations are at USD 380-390/MT, FoB Black Sea.