According to market sources report, Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel is a Navratna has issued a tender for export of 55,000 MT billet. The offered quantity comprises of 40,000 MT (150*150 mm) billet and 15,000 MT billet (90*90mm). The material shipment is scheduled for Jan’18.
Prior to this, the steel mill had floated export tender for 15,000 MT billet (90*90mm) which got expired on 29 Nov’17. According to market sources report to SteelMint, the steel maker has concluded the deal at around USD 465/MT, FoB India.
Currently Indian billet export offers are hovering around USD 490/MT, FoB and that from CIS nations is heard around USD 490-495/MT, FoB Black Sea.
Assessment for billet import to South East Asian nations stands at around USD 505-510/MT, CFR.
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