India: Vizag Steel Invites Ocean Export Tender for 60,000 MT Blooms
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Rashtriya Ispat Nigam Limited (RINL), the state-owned steel maker under the Ministry of Steel, has invited tender for the export of blooms of quantity 60,000 MT.
The offer given by the bidder will remain valid until 30 Mar'20. The bidders requested to kindly consider the port of loading as 'Gangavaram port (GPL)' only.
Bidders are requested to submit the offer online with the best price in USD/MT on FOB st Visakhapatnam (GPL) on a direct export basis.
Specifications:
| Product | Size (mm) | Grade/Length | Quantity (MT) | Last Date of Shipment |
| Bloom | 150X150 | 4SP | 30,000 | 15 Apr'20 |
| 150X150 | SAE 1008 | 20,000 | ||
| 150X150 | SAE 1018 | 10,000 |
Tender due dates-
-- For 4SP grade: 24 Mar'20 by 12:00 hrs.
-- For SAE grades: 24 Mar'20 by 14:00 hrs.
The company had floated a couple of spot bloom export tenders for 30,000 MT for size 150*150mm. As per sources, participation remained limited.
Prior to this, the company had floated an ocean export tender for 40,000 MT Bloom and 20,000 MT Billets for end Mar'20 shipment of sizes 200*200mm, 150*150mm, 90*90mm, and 65*65mm. According to reliable sources report to SteelMint, the company has canceled the tender owing to lower bids than expectations. If trade sources are to believe the tender fetched bids at around USD 380-385/MT, FoB for 150*150mm, whereas the company's expectation was around USD 395-400/MT, FoB.
Also, amid the corona-virus outbreak, the global billet market is running with weak sentiments. SteelMint assessment for CIS billet offers is at USD 380-385/MT, FoB Black Sea. While that for Iran is at USD 375-385/MT, FoB Iran.
