Vizag Steel (RINL) had floated an export tender on 24 Jul’17 for export of 10,000 MT billets of size 90*90mm. The billets offered was of grade -IS 2830 C20MMn Gr.A and chemical composition as follows: C-0.17-0.23, Mn-0.6-1, Si-0.15-0.35 max, P-0.045 max and S-0.05 max.
Bid submission due date for the tender was 26 Jul’17 and last date for shipment is scheduled on 31 Aug’17.
As per market sources report to SteelMint, the steel maker fetched higher bids and has concluded the tender at around USD 448/MT, FoB.
This price is higher by USD 14/MT against company’s last tender. Previous billet (90*90mm) tender which was floated by RINL on 10 Jul’17 was heard to have concluded around USD 434/MT, FoB.
Market sources shared that currently there is lesser stock available of billets of 150*150mm size and therefore the steel maker may come up with next export tender in August for September shipments.
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