Vizag Steel (RINL)- the state-owned steel maker under the Ministry of Steel, had invited tender for export of 8,127 MT (equivalent to 3 rakes) Billets to Nepal on 22nd Feb’19.
The minimum offered quantity for Billet at 2,709 MT and bid due date was till 26 Feb’19 which will remain valid till 5th Mar’19. The delivery schedule period for the material shall be 31st Mar’19.
As per market sources report to SteelMint, the company has cancelled the export tender as bid prices were not in line with company’s expectations.
As per sources, the highest bid for the tender is at USD 430-435/MT, however the producer was not looking to conclude it on less than of USD 440-445/MT ex-mill.
Vizag Steel’s previous Billet export tender to Nepal of 8,127 MT (equivalent to 3 rakes) was concluded at around USD 435-440/MT ex-mill, which bid due date was on 5th Feb’19. The delivery for the material scheduled by 15 Mar’19.
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