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Manish Saxena
Mumbai, Aug 16: Following the inroads made by SAIL and Tisco in the international market, Essar Steel has bagged significant export orders for exporting HRC coils. While SAIL and Tisco have concentrated their efforts to get export orders from middle east, and Latin American countries; the bulk of present Essar Steel export orders are HRC coils by Essar Steel is to the US market.
According to the company release, the company expects to exports 1,00,000 mt of steel during the quarter ending September 1999. For whole of the period of 1999-2000, the company expects to exports roughly 4 to 4.5 lakh tonnes of steel.
Importantly taking advantage of higher export relaistions the company has booked some orders for exports of HRC coils at $305 per tonne. With higher price realisations expected for forth coming orders, the company is targeting an average C&F prices of around $305 per tonne for the entire period of second quarter. This is at least 20 per cent higher than the realisations got by the company in thefirst quarter of the current fiscal.
The company points out that steel prices across the world is firming up. Prices in Europe are moving upwards from $250 to $280 per tonne.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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