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India's Vizag Steel Re-Issues Billet Export Tender for Nepal

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BigMint Bureau

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27 Oct 2017, 13:57 IST

India's Vizag Steel Re-Issues Billet Export Tender for Nepal

Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, has invited a tender for export of 5,504 MT billet (IS2830 grade) & 5,504 MT Wire rod coil to Nepal.

The minimum offered quantity is 2,752 MT. As per the document, delivery of material shall be 30 Nov'17 and the due date for bid submission is 2nd Nov'17 till 11:00 AM (IST).

SteelMint learned that company has re-issues this tender,as the last tender for Nepal was called off due to lower participation and higher bids received for ocean of same grade and size.

Although, the wire rod export tender was got concluded (one or two lots) at the price range of USD 520-525/MT (ex-mill).

Induction grade billet offers stable

The private manufacturers based in West Bengal & Odisha reported that presently they are not dealing for exports over high realization to deal in domestic market.

For instance the domestic offers in West Bengal - Durgapur are prevailing at around INR 26,800/MT (USD 412) and for exports buying is reported at USD 405/MT (ex-mill).

Similarly in Odisha - Rourkela where local deals are taking place at INR 25,600-25,800/MT (394-397) and export offers are prevailing at USD 400/MT (ex-mill).

The trade sources in Odisha also confirmed that the previous bookings is on priority which dispatches on fastest mode. And the fresh deals are yet in wait and watch mode.

Nepal, largest importer of Indian billet

Indian Billet exports to Nepal doubled in the first seven months of 2017. Indian billet exports to Nepal has reported about 0.65 MnT (till July'17) as compared to the same period last year at 330,000 MT.

Rising, re-rolling facilities in Nepal are the major factor behind high demand for Indian origin billets. Also, the Nepal does not have sufficient power supply that can support in house melting facility and have to be dependent on imported billet to meet demand from rolling mills.

In 2017 till Sep-end, the total billet shipments from India stood at around 1.85 million tonnes which is expected to cross 2 million tonnes in the current calendar year on rising demand from Nepal and South East Asian countries and absence of Chinese billets.