Indian Mill Concludes 20,000 MT Billet Export Tender - Sources

A government of India owned mill had floated ocean export tender for 20,000 MT Billets, 10,000 MT Wire Rod 20,000 MT Bloom and 10,000 MT Cast Round.

According to market sources report to SteelMint, the company has concluded the billet export tender for size 150*150mm of quantity 20,000 MT recently, sources reported to SteelMint. As per sources, the tender has been concluded at around USD 410-415/MT, FoB India. The company has witnessed the limited response for rest other lots of billet and wire rod and has cancelled the tender for these commodities.

The material shipment is to be made by 15 Sep'19.

Billet market overview:

1.CIS nations billet export assessment inched down last week and are reported at USD 405-410/MT, FoB Black Sea.

2. Offers from CIS nations to Thailand were assessed around USD 440-445/MT, CFR Thailand and that to Philippines are learned around USD 450/MT, CFR Manilla.

3. Indian domestic billet prices assessed at around INR 27,450/MT (USD 386) (ex-Mumbai), for 100*100mm billet, GST extra.