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
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
