Rashtriya Ispat Nigam Limited (RINL), has offered 30,000 tons of Pig iron (LSB grade) to domestic takers, through an open tender today (18.07.2013).
Last date for submission of bids: 02/08/2013 at 02:30 P.M.
Opening of tender (EMD bids): 02/08/2013 at 03:00 P.M.
Opening of tender (Price bids): 02/08/2013 at 04:30 P.M.
Offers valid till 02/09/2013
The successful party has to lift a minimum of 27,000 tons of the material within 45 days time.
Delivery schedule: Will be delivered Ex-Plant, Visakhapatnam by Rail (rakes) as well as by Road; loading charges to be borne by VSP.
RINL has for the first time floated an open tender in the current financial year.
It last offered 100,000 tons Pig iron open tender on the 22nd of December 2012, due to build up in inventory levels.
We think that RINL has chosen this option (open tender) as an alternative to get rid of the stock, it has been holding mid-February onward.
Technical bids of the June export tender with similar quantity is to open tomorrow.
If RINL fails to receive bids for the fourth time from overseas buyers, it now has an option to liquidate this entire quantity in domestic market at one go, which would otherwise be difficult due to weak demand in Indian Pig iron industry.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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