Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel had issued a tender for export of 15,000 MT billet (90*90mm, 12 metres in length) for 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 was 11:00 am IST on 29 Nov’17.
According to market sources report to SteelMint, the steel maker has concluded the deal at around USD 465/MT, FoB India.
Global billet export offers increase amid rising global scrap prices – Global scrap prices continues to move northwards amid fresh bookings and limited material availability over winters. US origin HMS (80:20) price assessment stands at USD 337/MT, CFR Turkey.
Rising scrap prices have pulled Indian billet export offers as well. CIS origin billet export offers increased to USD 480-485/MT, FoB Black Sea, higher by USD 5-10/MT against previous week’s assessment.
Leave a Reply