Vizag Steel's Billet Export Tender for Nepal Receives bid Above USD 350/MT

Vizag Steel had floated an export tender of 11,000 MT billet of size 90*90mm for Nepal (via Road), which closed on 18th Oct 2016. According to market participants, company has managed to get highest bid at USD 360/MT equivalent to INR 23,750/MT on ex-plant basis for 3,700 MT.

These prices are much higher as compared to last tender prices.

There was another tender of 10,000 MT billet (90*90mm) for all destination. Company received highest bid at around USD 312-313/MT FOB Vizag port. According to sources, company may not award it at such low price.

Vizag Steel's another 20,000 MT billet (150*150mm) received highest bid at USD 335/MT FOB Vizag port, however company has not concluded it.