Vizag Steel also known as RINL (Rashtriya Ispat Nigam Limited)- the state-owned steel maker under the Ministry of Steel, had invited tender for export of Wire rods, Billets and Blooms to Nepal on 8th Dec. The quantity for each product was at 5,418 MT (equivalent to 2 rakes).
The due date for bid submission was 13th Dec’18 with scheduled delivery by mid of Jan’19. The offer given by the bidder will remain valid till 20 Dec’18.
As per participants, the company has been concluded Billet (90-90mm) export tender at around USD 450/MT close to the highest (H1) bidder for 2,709 MT (equivalent to 1 rake).
However, as per them, due to low bids they have cancelled the Wire rod & Bloom export tender to Nepal, for which highest bids were reported at around USD 550/MT & USD 410-415/MT, respectively.
If participants are to be believed, the company is willing to sell rest of one rake Billet (2,709 MT, 90*90 mm) at similar prices as sold to H1 bidder.
Mid Size Mills Export Offers Move Up
The mid size mills have slightly raised their export offers to Nepal by USD 10/MT following surge in India domestic prices by about INR 500-1,000/MT (USD 7-14) in last 5-6 days.
The latest export offers through the Durgapur, eastern India based mills reported for Induction grade Billet (100*100mm) at around USD 440/MT as against last assessment at USD 425-430/MT ex-mill.
Similarly Wire rod export offers have also been raised by the producers and currently evaluated at USD 525-530/MT as compared to last assessment at USD 520/MT ex-mill.
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