Rashtriya Ispat Nigam Limited (RINL), a state owned Basic grade Pig iron manufacturer located in Vizag (Andhra Pradesh) has extended the 15,000 tonnes Pig iron open tender date for the 4th time.
Last date and time for bid submission: On September 4 & up to 2:30 p.m.
Opening of technical bid: At 3:00 p.m.
Opening of price bid: At 4:30 p.m.
Validity of price bid: Till October 4
The interested party has to lift a minimum quantity of 13,500 tonnes within 21 days from the date of LOA and the entire quantity within 45 days time.
Delivery: Will be delivered ex-plant, Visakhapatnam by Rail (rakes) as well as by road; loading charges will be borne by RINL.
On August 27, RINL received poor response and from a single participant only i.e. a Vizag based trader.
Owing to weak demand for Pig iron in Indian domestic market, the bid price was quiet low at around Rs 21,000/MT basic in comparison to RINL's domestic offers at Rs 22,500/MT (basic).
Hence, RINL rejected the same as it is looking for more participants and higher prices.
The tender was initially floated on July 20 and as it failed to receive a response for three times earlier, the tender date has been extended again.
In the last week of August, RINL, Nation's second largest Pig iron exporter, concluded an export deal for additional 30,000 tonnes of Pig iron (Si 1.0%).
RINL had floated a 30,000 tonnes Pig iron export tender on July 20.
The deal was finalized with Prime Carbon GmbH at US$370.70/MT FoB Vizag Port.
Shipment of the material will take place in the beginning of the month of October.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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