Rashtriya Ispat Nigam Limited (RINL), a state owned and India’s one of the largest steel producer & exporter, has extended date of its recent export tender for 80,000 MT (40,000 MT Billet & 40,000 MT Bloom) material exclusively for African countries.
In a recent notification, uploaded on company’s website, date has been extended to 14 Nov, 2014. Earlier, tender was to close on 13 Oct, 2014 but amid cyclone (Hudhud), it was extended to 28 Oct, 2014.
Officially, the company mentioned that cyclone, which has somewhat hampered the production is the prime reason why date has been extended. RINL is gradually resuming its production and expected to get normal in a week’s time.
Billet & Scrap prices in the global market have corrected to an extent of USD 30-40/MT in last 1-month.
Last RINL’s tenderfor Blooms had fetched USD 510/MT FOB Vizag port.
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