Indian Billet Export Market Gloomy on lower Chinese Bids

An Indian mill had floated a bloom export tender for 30,000 MT quantity and 150*150mm size. The grade mentioned in the tender was 3SP/4SP and the shipment was scheduled by end-Jun’20. According to credible sources report to SteelMint, the tender witnessed a dull response.
If sources are to be believed, the dull response was primarily due to the payment terms of the tender, which was noted to be 100% advance, and as per sources, the set base price was USD 375/MT, FOB basis. Also, the futures in China were noted to witness a reasonable drop.


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