Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, had floated a tender for export of 8,256 MT billet and 5,504 MT wire rod coils to Nepal on 27th Mar’18.
The offered billet in the tender comprises size 90×90 mm, grade – IS2830 C20MMn & Wire rod of Grade- SAE1008 & for 5.5mm and 6.0mm. The minimum offered quantity was 2,752 MT for both products.
The last date for tender bid submission was on 3rd Apr’18 and validity expires on 10th Apr’18. Delivery for the material was scheduled by April end.
According to sources, RINL has concluded the billet (90×90 mm) tender with a higher price at around USD 525/MT (ex-mill) and the buyers are Panchakanya Steel and other prime rebar producers based in Nepal.The bids fetched in this tender was higher by USD 10-15/MT against company’s previous tender floated last month.
Further, the Wire rod export tender concluded at around USD 650-655/MT for 5.5 mm & USD 635-640/MT for 6.0 mm on ex-mill basis & the buyer for this tender was Kamala Steel Rolling mills Pvt Ltd based in Biratnagar, Nepal
— As per trade participants, the latest export offers to Nepal for Induction route billets by medium mills in Durgapur reported at USD 525-530/MT (Offers), against last week at USD 505-510/MT (ex-mill) Durgapur & size – 100*100 mm.
— Wire rod (5.5 mm, commercial grade) export offers to Nepal stood at USD 600-605/MT ex-mill, Durgapur East India, which was about USD 590/MT a week ago. On CIF Nepal basis the latest offers will translate to around USD 615-620/MT.
— West Bengal-Durgapur based manufacturers has increased domestic billet prices by INR 400-500/MT D-o-D & assessed at INR 34,300-34,500/MT ex-mill.
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