Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, has invited a tender for export of 5,504 MT billet(IS2830 grade) & 5,504 MT Wire rod coil to Nepal.
The minimum offered quantity is 2,752 MT. As per the document, delivery of material shall be 31 Dec’17 and the due date for bid submission is 1st Dec’17 till 11:00 AM (IST).
The offer given by the bidder will remain valid till 08 Dec’17.
Prior to this the steel maker had floated export tender for 11,008 MT billets to Nepal which due date was on 2nd Nov’17. As per market sources, the tender was received weak response with nearly two rakes getting sold at around USD 440/MT (ex-mill).
Private manufacturers hold fresh exports
According to the market participants, the private manufacturers based in West Bengal & Odisha are remained silent for fresh billet export deals due to better realization to deal in domestic market.
The domestic billet offers in West Bengal – Durgapur are hovering at around INR 28,400-28,600/MT (USD 437-440) and in Odisha, ex-Rourkela at INR 26,800-27,000/MT (USD 413-416), ex-mill & excluding GST. However the buying interest by Nepal based rolling mills are reported near to USD 415/MT on ex-mill basis.
Indian Billet Exports Cross 2 MnT
Indian overall billet exports continue to surge due to absence of Chinese billets amid higher offers. According to the data maintained by SteelMint stats based on vessel line up, billet exports from India in CY17 till Nov-end are recorded at around 2.05 MnT which was about 1.75 MnT in CY16.
Nepal, is the favorable destination of Indian billet exports and are imported about 0.65 MnT billet from the total Indian billet exports of 1.85 in CY17 (till Sep-end).
Low billet productions due to scarcity of power and rising re-rolling facilities have forced Nepalese buyers to source largely Indian billets with less voyage time and easy pay mode though LC (letter of credit).
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