Mining News Pro - Rashtriya Ispat Nigam Limited (RINL) - a state owned steel maker under the Ministry of Steel, has invited a tender for export of 10,000 MT Billets and 20,000 MT Blooms.
According to Mining News Pro -Rashtriya Ispat Nigam Limited (RINL) - a state owned steel maker under the Ministry of Steel, has invited a tender for export of 10,000 MT Billets and 20,000 MT Blooms. Interested bidders can submit their bids till 24 Oct’18 at 11:00 hrs. As per the delivery schedule, last date of delivery period shall be 30 Nov’18.
The offer given by the bidder will remain valid until 31 Oct’18.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.
Specification:
| Product | Size (mm) | Grade | Quantity (MT) |
| Billet | 90 x 90 | IS 2830 C20 MMn Gr A | 10,000 |
| Bloom | 200 x 200 | IS 2830 Gr A | 20,000 |
The length of Billets is 12 meters approximately and packaging will be in bundles.
For contact details and other information view TENDER SECTION
Prior to this the company had floated tender for export of 10,000 MT Billets (90*90mm) , 25,000 MT Blooms (150*150 mm & 200*200 mm) and 5,000 MT Wire Rod in end of Sept. As per sources report, the tender for 90*90mm billet received bids around USD 460/MT, FoB and as bids received were lower than company`s expectation thus it was cancelled.
Global Billet market overview:
1. CIS billet export price assessment is around USD 455-460/MT, FoB Black Sea. Amid gap between bids & offers, no significant deals were observed.
2. India`s Steel Authority of India Limited had floated tender for 13,500t Billet export which was due on 10 Oct`18.According to market sources report to SteelMint, the tender received participation from about 3 companies with highest bid around USD 470-472/MT, FoB
3. Domestic billet prices in India are assessed around INR 34200-34300/MT in Mumbai (GST extra). Many markets remained closed amid festive holidays.