Vizag Steel also known as RINL- state-owned steel maker under the Ministry of Steel, had invited a tender for export of 10,836 MT Billets, 8,127 MT Wire rod and 5,418 MT Bloom to Nepal on 13th Jul’19.
The bid due date for the tender was 19th Jul’19 and delivery scheduled by 20th Aug’19 with bid validity till 27th Jul’19.
As per latest update received from sources, the company has cancelled all lots of exports due to low bids received than the company were expecting.
If participants are to be believe, the highest bid for the Billet (90*90mm) was at around USD 400/MT & for Bloom (150*150mm) it was near to USD 375-380/MT ex-mill.
In line Wire rod, the highest bid was reported at close to USD 460/MT ex-mill.
Sources mentioned that, the Vizag Steel was looking to conclude it at least by high of USD 20/MT than the received highest bids.
Earlier also, the Vizag Steel had cancelled export tender to Nepal due to low bids in which the bids for Billet(90*90mm) was at around USD 410/MT & for Wire rod it was about USD 490/MT ex-mill. The tender was floated 5th Jul’19 and later it was cancelled.
Induction Grade Export Offers
The mid sized mills in Durgapur, eastern India being stated weak response in export offers to Nepal.
The fresh offers by mills have reported for Billet (100*100mm, induction grade) at near to USD 375-377/MT, while for Wire rod (5.5mm, commercial grade) at around USD 435-438/MT ex-mill.
As per them small parcels sold in the begining of Week for Billet at close to USD 380/MT & Wire rod at not less than of USD 440/MT ex-mill. The freight cost to Nepal learned at USD 25-30/MT CFR Raxaul border.
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