India: Vizag Steel Concludes Billet Export Tender to Nepal - Sources
Sunday, October 7, 2018 - 1:02:25 PM

According to Mining News Pro -Vizag Steel also known as RINL- the state-owned steel maker under the Ministry of Steel, had invited a tender for export of 5,418 MT (150*150mm) Bloom, 10,836 MT (90*90mm) Billet & 5,418 MT (5.5 & 8mm) Wire rod to Nepal on 29th Sep`18. The minimum offered quantity for all the products was 2,709 MT (equivalent to 1 rake).

The delivery for the material is scheduled till 15th Nov’18 and bid due date was 3rd Oct`18, which will remain valid till 10th Oct`18.

As per participants, Vizag Steel received good response for the Billet tender as bid prices were similar to the company`s last export tender to Nepal. The highest bid for the Billet (90*90, IS 2830) export tender reported at around USD 500-505/MT, Ex-Mill.

If sources are to be believed, the company has concluded two rakes of Billet deal with one of the renowned mill in Nepal at close to USD 501-503/MT Ex-Mill. However remaining quantity of Billets still under negotiation.

Likewise, the bids for the Wire rod tender was less than the company expectation. As per reports the highest bid for Wire rod (5.5-8mm SAE 1008) tender was about USD 560-565/MT, Ex-Mill. However the last tender by the company was concluded at around USD 590-595/MT, Ex-Mill.

Hence, the tender have yet not been concluded and are still under discussions, as reported by sources.

The freight cost from Vizag Steel to CFR Raxaul/Jogbani border (Nepal) is about USD 30-35/MT for Wire rod & USD 40-45/MT for Billets, as per participants.
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