Vizag Steel, India’s state owned steel maker, had floated an export tender of 11,000 MT billet of size 90*90 mm for Nepal (via Road), which closed on 19th Dec’16. Company has received highest bid at around USD 380-385/MT (equivalent to INR 25,250/MT) on ex-plant basis.
However, company has managed to negotiate to USD 395-396/MT (equivalent to 26,300/MT), according to market participants.
Last tender by Vizag steel was concluded at USD 383/MT FOB Vizag Port, in the month of Nov’16.
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