Vizag Steel also know as RINL, an Indian government owned steel maker had floated an export tender of 11,008 MT billet of size 65*65,75*75 & 90*90mm and 11,008 MT wire rod of size 5.5 & 8 mm.
According to sources, company has managed to conclude the tender for which bid submission due date was 20 Jun’17.
90*90mm billet sold to Nepal at above USD 400/MT (ex-mill) and Wire rod concluded at around USD 435/MT (ex-mill).
Vizag Steel has cancelled tender for export of billet made of other countries due to lower bids. According to participants company received 2-3 response and highest bid at around USD 390-395/MT FOB.
Vizag Steel may float billet export for ocean in the month of July for August shipments.
Vizag Steel is one of India’s largest steel producer, which produces around 3.5-4 MnT crude steel annually.
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