Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel is a Navratna has issued a tender for export of 15,000 MT billet (90*90mm, 12 metres in length) for which material delivery scheduled up to 31 Dec’17.
The material offered was of size 90*90mm (IS 2830 C20MMn Gr.A) having chemical composition as follows: C: 0.17-0.23%, Mn : 0.6-1%, Si: 0.15-0.35% max, P: 0.045% max and S: 0.05% max. The due date for bid submission is 11:00 am IST on 29 Nov’17. The bidder can keep their offers firm until 7 Dec’17 or as extended with mutual agreement between RINL and the bidder.
Global Billet Sentiments
1. Iran billet export increases sharply on depreciating currency. Country exported 1.78 MnT in first seven months (21 Mar-22 Oct,2017) of Iranian Persian year. Manufacturers have raised their domestic and export offers on recent export orders. KSC heard to have raised their billet export offers to USD 455-460/MT FoB Iran. KSC domestic offers for late December delivery was heard to be around USD 445-446/MT excluding 9% VAT.
2. South East Asian re-rolling mills are eyeing a price level of USD 480-485/MT CFR, but global offers have started moving up on rising scrap prices and may be USD 490-495/MT CFR looks more workable price
3. India’s JSW Steel offered 10,000 MT billet of size 130mm,5SP, last Friday, for which expectation was around USD 460-465/MT FOB India. No firm offers heard for induction grade billet, but expected to be in the range of USD 445-450/MT FoB India
4. Russian manufacturers heard to have raised their billet offers to USD 470-475/MT FOB Black sea
5. Chinese domestic billet prices assessed at RMB 3,850/MT (ex-works) (USD 584) Ex-Tangshan, including VAT of 17%
6. Indian induction grade billet prices assessed at INR 28,500-28,700/MT (USD 442-445/MT) Ex-Mumbai, excluding 18% GST
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