India: Vizag Steel Cancels Steel Export Tender to Nepal; Floats New Tender
One of India's largest steel producer - Vizag Steel, state owned steel maker under the Ministry of Steel, had invited a tender for export of 8,127 Billets, 8,127 MT Wire Rod and 5,418 MT Bloom to Nepal on 17th Sep'19.
The bid due date for the tender was 24th Sep, which was valid till 1st Oct'19 and delivery has been scheduled by 31st Oct’19.
As per latest update received by SteelMint, Vizag Steel has cancelled the export tender to Nepal for all products due to less competitive bids received than the company's expectation.
Participants of this tender has reported, highest (H1) bids for Billet & Bloom at around USD 355/MT & for Wire rod at near to USD 385/MT ex-mill, Vizag Steel.
However as per them, Vizag Steel was looking to conclude billet tender at bids higher by USD 5-10/MT than bids received.
Prior to this in Sep'19 mid, the company has concluded wire rod export tender to Nepal for one rake at around USD 430-435/MT, which was equivalent to USD 470/MT CPT Raxaul border, Nepal. Moreover billet export tender had cancelled due to low bids at near to USD 345-350/MT ex-plant.
Fresh offers large mills in Eastern India learned at near to USD 400/MT for Billet & USD 460-470/MT for Wire rod, CPT Raxaul border, Nepal.
In line offers through the mid scale mills (induction grade steel) reported at around USD 385/MT of Billet & USD 435-440/MT for Wire rod, CPT Raxaul border, Nepal.
Company's new export tender for Nepal - RINL has invited a tender for export of 8,127 MT Billets, 5,418 MT Bloom and 8,127 MT Wire Rod. Bidder is requested to submit his offer online with best price in USD per MT on ex-plant Visakhapatnam on direct export basis for the products.Delivery has been scheduled on 15 Nov’19. Interested bidders can submit their bids till 09 Oct’19 at 14:00 hrs.
source: SteelMint
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