Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, had invited a tender for export of 8,127 MT Billet (IS2830 grade, 90*90mm) & 5,418 MT Bloom (150*150mm). The delivery for the material was scheduled by 15 Dec’18 and bid due date was 15th Nov’18 till 11:00 AM (IST).
According to sources report, the company has concluded tender for 90*90mm Billet at around USD 480/MT for 2,709 MT (equivalent to 1rake) & 150*150mm Bloom at close to USD 455-460/MT for 5,418 MT (2 rakes), ex-mill.
Prior to this, RINL had cancelled the billet export tender to Nepal which was expired on 30th Oct’18 due to low bids at around USD 475/MTamid weaker rupee which was trading at close to 73.0 and now hovering at 71.1 against a US dollar.
Medium Mills Export Offers to Nepal
The mid size mills based in Eastern India (West Bengal & Jharkhand) stated limited inquiries, however assuming better demand in coming days.
The latest export offers for induction grade (100*100mm) Billet hovering at USD 460-465/MT & for Wire rod 5.5mm commercial grade at around USD 545-550/MT ex-mill at Durgapur, West Bengal.
India exported around 1,888,391 MT Billet & 214,723 MT Wire rod during Jan-Sep’18, in which Nepal’s contribution is about 45-47% & 88-90%, respectively.
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