Vizag Steel, India’s leading steel producer may re-issue two different export tenders for Pig iron and billet later this week.
Earlier, the company has floated two different tender for export of 20,000 MT Pig iron and 30,000 MT billet which closed on 19 Jan’17.
The company had received good response in both the tenders; Pig iron tender was awarded at USD 298/MT FoB Vizag Port and billet was awarded at USD 397.5/MT, FOB India.
But tender awardees failed to submit the bank guarantee (BG) on time. Hence, the company has canceled both the tenders.Now, the company is planning to re-issue both the tenders.
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