India’s state owned mill Vizag Steel also know as Rashtriya Ispat Nigam Ltd (RINL) has concluded its 5,500 MT (equivalent to 2 rakes) billet to Nepal through open tender, according to trade sources.
The company had issued a tender on 2nd Feb 2018 for export of 5,500 MT billet & 11,008 MT bloom to Nepal. The material shipment is scheduled for Feb-end & the offer given by the bidder are valid till 13th Feb’18.
SteelMint learned that, the company has concluded its 5,504 MT billet export tender at around USD 510/MT (ex-mill). The buyer’s for this tender was reported Panchkanya Rolling mills and Kamala Steel Rolling mills Pvt Ltd based in Biratnagar, Nepal.
However, it was not confirmed if 11,008 MT bloom tender has been concluded at the time of publishing.
Prior to this, Vizag Steel’s last export tender to Nepal was concluded during Jan’18 of 5,500 MT Wire rod at around USD 600/MT and 8,300 MT Billets at USD 510-515/MT on ex-mill basis.
Key Updates
1. Indian billet (induction route) exporters turn active on improved demand from South East Asian mills. SteelMint learned that one deal of around 10,000 MT billet from West India based mill has been reported at around USD 520-525/MT, CFR Indonesia.
2. Nepal is the largest destination for Indian billets. India exports around 1,000,000-1,200,000 MT billets every year to Nepal, which is 40-45% of total exports.
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