Update: India's Vizag Steel Export Tender for Billet and Wire Rod to Nepal

Vizag Steel also known as RINL - state-owned steel maker under the Ministry of Steel, had invited a tender for export of 10,836 MT Billets, 10,836 MT Wire Rod to Nepal on 31st Aug'19.

The bid due date for the tender was 5th Sep, which was valid till 12th Sep'19 and delivery has been scheduled on 15 Oct'19.

As per latest update received by SteelMint, Vizag Steel has concluded wire rod export tender to Nepal for one rake at around USD 430-435/MT, this is equivalent to USD 470/MT CPT Raxaul border, Nepal.

However billet export tender has been cancelled due to low bids in which highest (H1) bid assessed at near to USD 345-350/MT ex-plant. Meanwhile as per sources, the company was looking to conclude it at least USD 20/MT high than the bids. Hence it got cancelled.

-- Recently an eastern India based large mill has concluded a rake of wire rod export deal to Nepal at around USD 460/MT CPT Raxaul border.

-- Meanwhile the company's billet export offers assessed at near to USD 390/MT ex-mill, this is equivalent to USD 405/MT CPT Raxaul border.

-- In line mid sized mills export offers assessed at near to USD 380/MT for billet & USD 435-440/MT for wire rod ex-mill at Durgapur. This attracts freight cost to Nepal of about USD 25/MT CPT Raxaul border.