India: Vizag Steel Re-Issues Export Tender for Billet & Wire Rod
Mining News Pro - Rashtriya Ispat Nigam Limited (RINL) - a state-owned steel maker under the Ministry of Steel, has re-issued tender for export of 10,000 MT Billets and 12,500 MT Wire Rod. As per sources, last export tender of billet and wire rod which was issued for same quantity and specification which was due on 26 Jul`18 was canceled following which company has issued fresh tender.
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Interested bidders can submit their bids till 08 Aug’18 at 11:00 hrs. The offer given by the bidder will remain valid until 15 Aug’18. As per the delivery schedule, the last date of the delivery period shall be 15 Sep’18.

As per sources, the bids fetched in its billet export tender was around USD 505-508/MT, FoB.

The bidders have the option to quote for shipment either at Visakhapatnam port (VPT) or Ganagavaram port (GPL). For steel products other than WRC the FOB expense of VPT is Rs. 348.79 and for GPL is Rs. 319.44 and for WRC is Rs 305.14 for VPT and Rs 242.94 for GPL.

Specification:

Product

Size (mm)

Grade

Quantity (MT)

Billet

90 x 90

IS 2830 C20MMn Gr A

10,000

WRC

5.5

SAE 1008

12,500

 

Global Billet market snapshot:

1. CIS billet export price assessment remains stable around USD 500/MT, FoB Black Sea

2. Indian Induction grade billet export deals to SE Asian nations reported at around USD 530-535/MT, CFR

3. Domestic billet prices in India are around INR 32,500-32,700/MT (USD 475-478) (ex-Mumbai, GST extra)


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