Vizag steel, state owned and India’s one of the largest steel producer in long steel segment, had floated an export tender for 11,000 MT of wire rod coil (5.5mm, 7mm & 8mm) for Nepal. Tender closed on 18 Oct’16 and received higher bids as compared to last tender which expired on 19th Sep 2016.
According to market participants, the company has received highest bid at around USD 430/MT (INR 28,350) ex- plant basis located in Vizag (India’s east coast). Last tender for same grade was settled at around USD 374/MT (Ex-plant).
Currently, 5.5 mm wire rod prices in Raipur and Durgapur are at INR 26,400/MT (USD 395) and INR 25,000/MT (USD 370) respectively on ex-works basis, excluding excise duty and VAT. While, Chinese wire rod offers are at around USD 355-360/MT FoB China main port.
Government owned Vizag steel has presently installed steel capacity of 6.3 MnT per annum.
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