India: Vizag Steel Floats Billet Export Tender to Nepal

Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, has invited a tender for export of 5,504 MT billet (IS2830 grade) to Nepal. The minimum offered quantity is 2,752 MT. As per the delivery schedule, last date of delivery period shall be 31 Oct'17. The due date for bid submission is 17 Oct'17 till 11:00 AM (IST).

The offer given by the bidder will remain valid till 24th Oct'17.

For the same destination & quantity as well, the company had floated export tender on 23rd Sept which got expired on 03rd Oct. As per market participants, the company received poor response and the tender got cancelled.

SAIL's offer also heard for 150*150 billets from its Burnpur (East India) based plant at around USD 470/MT ex-Mill. However, if market sources are to be believed there is no fresh export deals by the company owing to weak response from global buyers.

Private Manufacturers received poor response

In conversation with Induction grade billet manufacturers based in West Bengal & Odisha, SteelMint learnt that billet export inquiries is poor currently. According to them they are offering billet for exports at USD 400-410/MT ex-Mill but the buying interest is less by USD 10-15/MT then the offers.

The previous deals by the manufacturers are reported at USD 415-420/MT (ex-Mill) for Nepal.