RINL’s (Vizag steel) recent export tender of 11,000 MT wire rod coil of 5.5 mm, 7 mm and 8 mm to Nepal closed on 19 Sep’16.
According to market participants, the company has received bid at around USD 368/MT ex- plant basis located in Vizag (India’s east coast). However, the company has negotiated the deal at USD 374/MT ex-works.
Currently, 5.5 mm wire rod prices in Raipur and Durgapur are at INR 27,300/MT (USD 393) and INR 25,400/MT(USD 365) respectively on ex-works basis, excluding excise duty and VAT. While Chinese wire rod offers are at around USD 340/MT FoB China main port.
Government owned Vizag steel has presently installed steel capacity of 6.3 MnT per annum.
Leave a Reply