Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel had issued a tender for export of 10,000 MT billet, 20,000 MT Blooms, 10,000 MT Rounds, 3,000 MT Angles and 2,000 MT Beams.
The 10,000 MT billet offered was of grade IS 2830 C20MMn Gr.A of size 90*90mm and bloom offered was of grade IS 2830 C20MMn Gr.A of size 150*150mm. The material specification were as – C-0.17 – 0.23%, Mn -0.60 – 1.00%, Si – 0.15–0.35 %Max, S-0.045% Max and S-0.050% Max. The material delivery was scheduled between 15-31 Mar’18.
Market participants reported participation from 3-4 bidders for both the tenders.
As per market sources, the highest bid received was around USD 490-500/MT, FoB India however no confirmation was received from company officials. As per trade sources, bids received are in line with the current offers prevailing in global market. Presently billet export offers from CIS nations is around USD 500-510/MT, FoB Black Sea.
On the other side, the steel maker had announced hike of up to INR 1000/MT in its steel prices w.e.f 18 Jan’18 amid hike in raw material cost and healthy export orders. After hike, price of Billet (125×125 mm IS 2830) is at INR 35,210/MT.
According to trade sources, the company might cancel this export tender and reissue again in mid Feb’17.
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