SAIL’s silico manganese tender fails to receive bids
Recent tender by SAIL (Steel Authority of India) for purchase of 60,940 MT has failed to receive bids due to low floor price set by the company. According to sources, the floor price was set at around INR 49,500/MT on LCNF basis (Landed Cost, Net of Modavat).
It is expected that company may review its floor price soon and ask for fresh bids.
8 plants participated in the techno-commercial bid for the tender for SAIL’s different plants/units for the period of six months starting from Oct’16 to Mar’17 in two cycles of 3 months each.
List of Participating Companies with offer quantities for Market 1 – Bhilai Steel Plant (BSP), Bokaro Steel Plant (BSL), Durgapur Steel Plant (DSP), IISCO Steel Plant (ISP), Alloy Steel Plant (ASP).
Notably silico manganese prices have increased sharply on back drop of rising manganese ore prices in domestic market. Current offers for 60/14 are hovering around INR 56,500/MT (Ex-Works, Raipur) and INR 55,000/MT (Ex-Works,Durgapur). Prices are excluding excise duty and taxes.
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