Rashtriya Ispat Nigam Limited (RINL) – a state-owned steel maker under the Ministry of Steel, had issued tender for export of 10,000 MT Billets and 12,500 MT Wire Rod. The tender floated for 10,000 MT billets of size 90*90mm and IS 2830 C20MMn Gr A grade. 12,500 MT wire rod coil offered was of size 5.5mm.
The due date for bid submission was till 08 Aug’18 at 11:00 hrs which was later extended to 11 Aug’18.
Now as per the latest update received, the company has cancelled the tender owing to limited participation. And the company has issued another tender for billet with nearly same quantity for Nepal. The new tender issued is for maximum quantity of two rakes and the material delivery is scheduled by 31 Aug’18.
The last date for bid submission is 15:00 hrs on 16 Aug’18. However bid validity is till 23 Aug’18.
Earlier to this, the steel maker concluded tender for 1 rake of billet (90*90mm) to Nepal at around USD 500-505/MT (ex-mill).
Billet Market updates:
1. Indian billet export tender for 18,900 MT for 125*125mm & 150*150mm was heard to have concluded at around USD 505-510/MT, FoB.
2. Domestic billet prices in India are hovering around INR 33,300-33,500/MT (ex-Mumbai, GST extra) (USD 477-480).
3. Billet export price assessment from CIS nations is around USD 490/MT, FoB Black Sea.
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