India’s government-run steel producer has floated another export tender for 30,000 mt prime concast SAE-1008/1010/1018 150 mm billet for shipment by July 20, 2026, as the company announced this weekend.
The last date for submission of bid has been fixed for May 27, 2026, for minimum bid volume of 10,000 mt. The delivery will be executed against irrevocable without recourse international letter of credit on payable at sight terms.
The latest export tender comes close on heels of another ‘live’ export tender for 60,000 mt (or minimum 30,000 mt) of 3SP/4SP billet floated last week and slated to close tomorrow (May 26,2026).
The mood in the Asian billet market has weakened a lot and most buyers in SE Asia have not been interested in purchases even as ex-China 3SP billet offers have come down to $490/mt CFR. So, Indian mills will be not interested in sales to Asia as the price should be below $460/mt FOB to attract some demand. But the level in the GCC can be higher, market sources agree. Market sources believe that traders will target similar price level in India that is still from China at the moment - $470-475/mt FOB and hardly above.
