Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, has concluded a tender for export of 10,000 MT billets of size 150*150 mm for April delivery. This tender closed on 27 Mar’17.
According to market sources, company has finalized the tender at around USD 387-390/MT FOB. However company cancels another tender of 10,000 MT billets of size 95*95 mm
Another tender of Vizag Steel for export of 11,000 MT billet to Nepal which closed on 30 Apr’17 has concluded the tender at price USD 410/ MT Ex-plant, Nepal. As per the delivery schedule, company will deliver the billet till 30 Apr’17.
Market is also apprehensive about falling domestic billet prices in China, which may prompt Chinese suppliers to explore seaborne market. There is no firm export offer from China, but prices are expected to be in the range of USD 430-440/MT FOB China.
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