Vizag steel also know as Rashtriya Ispat Nigam Ltd (RINL) had floated an export tender of 13,760 MT billets (65×65, 75×75, & 90×90 mm) for Nepal, which expired on 25 Apr’17 for May’17 delivery.
According to sources, company has managed to fetch decent response from Nepal based buyers. Bids were heard in the range of USD 400-405/MT (ex-mill). Company has not yet concluded this tender.
Last tender for Nepal was concluded at around USD 410/MT in the month of Mar’17.
Indian billet (HS code 7207) exports in 2016 were recorded at 1.75 MnT, out of which 0.61 MnT was exported to Nepal and 0.58 MnT to Bangladesh. Indian billet exports in 2015 were recorded at around 0.8 MnT.
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