Vizag Steel’s export tender of 30,000 MT Pig iron opened on 9 Jan’15 is canceled owing to infeasible bids.
Vizag Steel (RINL) had received a single bid in the show from Switzerland based trading company named Prime Carbon GmbH of around USD 306/MT, FoB.
The company took around a week in order to take the crucial decision, as concluding at low level may disturb the market sentiments and rejecting would build stock pressure. RINL has finally decided to cancel the tender and floated a fresh export tender of 30,000 MT on 22 Jan’15 (today).
The bid received was quite disappointing as it was lower by USD 14/MT from the recent deal sealed by MMTC at USD 320/MT on 6 Jan’15.
RINL issues Fresh Tender for 30,000 MT Pig Iron Export
RINL has floated an export tender for sale of 30,000 MT basic grade Pig iron to other countries till 11 Feb’15.
The delivery of material will made till 31 Mar’15 at FoB Vishakhapatnam or Gangavaram Port on direct export basis. Last date for submission of bids shall be on 11 Feb’15 at 15:00 hrs and opening of technical bids will be on the same day at 15:30 hrs.
Product Specifications
- Grade: Basic
- C: 3.5-4.5%
- Mn: 0.50% max
- Si: 1.0% max
- P: 0.12% max
- S: 0.05% max
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