India: Vizag Steel Concluded Billet Export Tender to Nepal
Vizag Steel (Rashtriya Ispat Nigam Limited)- the state-owned steel maker under the Ministry of Steel, had invited tender for export of 10,836 MT (equivalent to 4 rakes) Billet to Nepal on 5th Apr'19. The bid due date was on 16th Apr and offer validity was till 19th Apr. The delivery for the material is scheduled by 15 May’19.
As per sources, the company has received dull response for this tender as out of total allotted billets, only about 1 rake (2,709 MT) has been sold out to the highest bidder.
As per participants, the highest bid for the tender was at USD 440-445/MT, however post negotiation it got settled at near to USD 450/MT ex-mill. The freight cost to Nepal reported at USD 35-40/MT CNF Raxaul border (Nepal).
The remaining about 8,127 MT (about 3 rakes) Billet remained unsold, SteelMint learned from sources.
Prior to this, RINL's 8,127 MT (equivalent to 3 rakes) Billet export tender to Nepal was concluded during mid of Mar'19 at near to USD 440-445/MT, ex-mill.
Induction grade billet offers to Nepal
Amidst volatility in Indian domestic steel prices, the export offers to Nepal is being slightly fluctuates through the mid size mills who's making steel through EA or Induction furnace route.
The latest export offers through the Durgapur, eastern India based mills reported for Induction grade Billet (100*100mm) at around USD 450-453/MT, however the buying interest heard at near to USD 445-448/MT ex-mill.
Meanwhile the export offers for Wire rod (commercial grade & 5.5mm) is hovering at USD 530-535/MT ex-mill (Durgapur), equivalent to USD 560-565/MT CNF Raxaul border, Nepal.
source: SteelMint
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