Hyundai Steel calls tender for 10,000 tonnes of billet

Hyundai Steel has offered a 10,000-tonne billet cargo for early October loading in a tender, sources said on Monday August 18.

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The South Korean steelmaker is looking for a price no lower than $510 per tonne fob for a cargo of 122x122mm billet, one trader said. A second trader said that he too heard that Hyundai Steel had made a call for tender.

The steelmaker could not be reached for comment.

Last month, Hyundai Steel called off an export tender for a similar-sized cargo due to low bids. The highest bid was understood to have emerged at $500 per tonne fob, which it turned down.

Interested buyers for the latest tender have been asked to submit their bids by Tuesday August 19.

Juan Weik in Singapore contributed to this report.