India: SAIL Floats 16,200 MT Billet Export Tender from its Durgapur Plant

Steel Authority of India - a government of India Company has invited an ocean export tender for billets. The tender quantity is reported to be 16,200 MT. The cargo will be shipped from Haldia port and shipping is scheduled by 25th Aug’19.

The tender was put up for Prime Mild Steel Non-Alloy Concast billets, size 150*150 mm offered from Durgapur Steel plant and has following specifications - C%:0.17-0.23, Mn:0.60-1.0, S: 0.05 Max P: 0.05 Max Si: 0.10-0.35

The said invitation bid service has been activated by SAIL for entry of data at 15:30:00 HRS [IST] of 25 Jun’19. The last date for bid submission is 28 Jun’19 by 17:00:00HRS [IST].

Global billet offers up following scrap price rebound - After witnessing few dull weeks, the global billet market is expected to gain rise this week. The clues can be seen with increased CIS offers. This week, CIS billet export offers were reported to be USD 415/MT, FoB, Black Sea, up by USD 5/MT against last week.

Chinese domestic billet prices have also moved up by RMB 100/MT yesterday against last week’s close amid imposed steel production cuts in Tangshan.

SteelMint’s assessment of imported HMS 1&2 (80:20) stands at USD 280-281/MT, CFR Turkey up marginally against last week close.