Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, an Indian government owned steel maker had floated a tender for export of 24,768 MT billet & 13,760 MT wire rod coil to Nepal on 06 Sept.
According to sources, the company has managed to conclude both the tenders for which bid submission date was due on 13th Sep 2017.
As per market participants, the company has concluded one lot of billet at around USD 480-490/MT (ex-mill) and two lots of wire rod at around USD 520-525/MT (ex-mill). The delivery of material has scheduled by end of Oct’17.
SteelMint learned that these prices are lower as compared to another tender concluded by RINL for other countries. 90mm billet was concluded at USD 525-526/MT, 150mm billets concluded at USD 515/MT and Wire Rod at $560-565/MT FOB India east coast basis.
Induction furnace grade billets
According to market sources, small mills in West Bengal-Durgapur also offering Induction furnace grade billet to Nepal at around USD 425-435/MT (ex-mill).
If source to believe, the mills are continuously selling billet to Nepal as domestic demand is not much supported amid low realization.
Billet exports from India during Jan-Jun 2017 (Country wise)
| Unload Country | Quantity | % Share |
| Nepal | 0.55 | 42.59 |
| Indonesia | 0.17 | 13.05 |
| Thailand | 0.1 | 7.87 |
| United States | 0.1 | 7.46 |
| Malaysia | 0.07 | 5.4 |
| Italy | 0.05 | 4 |
| Sri Lanka | 0.04 | 3.43 |
| Saudi Arabia | 0.04 | 3.09 |
| Singapore | 0.03 | 2.63 |
| Philippines | 0.03 | 2.38 |
| Bangladesh | 0.03 | 2.12 |
| Others | 0.08 | 5.97 |
| Grand Total | 1.29 | 100 |
Quantity in MnT
Sources: SteelMint Stats.
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