India: Vizag Steel Concludes Billet Export Tender to Nepal

Vizag Steel (RINL) - the state owned steel maker under the Ministry of Steel, had invited tender for export of 8,127 MT (equivalent to 3 rakes) Billets to Nepal on 13th Mar'19.

The minimum offered quantity for Billet at 2,709 MT and bid due date was till 16 Mar'19. The delivery schedule period for the material shall be 31st Mar’19.

As per market sources report to SteelMint, the company has received better response in this tender as bids received as per expectations. The company has conclude the tender for entire 3 rakes quantity at USD 440-445/MT, ex-mill.

The freight cost via rake from RINL to Nepal (Raxaul border) by sources reported at around USD 35-40/MT.

Prior to this, Vizag Steel had cancelled its Billet (90*90mm, 8,127 MT) & Bloom (150*150mm, 5,418 MT) export tenders to Nepal due to lower bids and was floated during 1st week of Mar'19. As per sources, the highest bid for the Billet export tender was at around USD 430-435/MT & for Bloom at USD 420-425/MT ex-mill.