RINL, Vizag steel has finally concluded wire rod export deal to South East Asia after its tender cancellation to Nepal for qty 11,008 MT- Sources.
The state owned manufacturer, Rashtriya Ispat Nigam Limited(RINL) has cancelled its 11,008 MT wire rod export tender to Nepal which expired on 28th Jul’17.
As per the close source with the company, “the deal was cancelled owing to the low bid received around USD 460/MT, FoB India on expectation of higher bids”.
But now same cancelled tender have been concluded to the South East Asia at relatively higher offers around USD 495-500/MT, FoB India, sizes 5.5mm to 6.5mm and grade SAE1008. For which the shipment will be take place in Aug 2017” he added.
Since the global steel prices started to pick, the large steel producers are aggressively getting involved in export of Billet and long steel too owing to high realization through exports the materials.
Latest Tender Update by RINL:
Today Vizag Steel, has invited a tender for export for Nepal of 16,512 MT billet followed by 16,512 MT wire rod coil to Nepal to be delivered by 30th Sep’17. The due date for bid submission is 09 Aug’17 till 11:00. AM (IST).
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