The major Indian state-owned mill has managed to close another tender for 30,000 mt of 150 mm billet late this week. The price level has increased closer to $600/mt FOB amid better sentiment, supported by China’s imports resumption.
The highest bid in the tender was $598.5/mt FOB, up from about $591/mt FOB in the previous tender by the same producer held earlier this week. The final sales destination is expected to be China, where 150 mm billet is more popular.
As SteelOrbis reported yesterday, the tradable value for non-ASEAN billet, including Indian, which is the subject to 2 percent import duty, increased from $640-645/mt CFR to $650-655/mt CFR.
