India: Vizag Steel Issues Spot Sales Notice for Export of Steel Products

Rashtriya Ispat Nigam Limited (RINL)- state-owned steel maker under the Ministry of Steel, has issued spot sales notice for export of 10,000 MT bloom, 10,000 MT billet & 10,000 MT wire rod coils.

The destination for the sales notice floated in any country other than Nepal and banned countries.
The bidders requested to kindly consider the port of loading as ‘Gangavaram port (GPL)’ only.

The last date for submission requirement is by 17:00 Hrs on 26h Dec’19

Prior to this the company had floated bloom export tenders of quantity 50,000 MT billet. The tender floated was for IS 2830 C20MMn Gr A grade and for sizes; 150*150, 200*200, 250*250mm. The material offered had specification C- 0.17 - 0.23%, Mn- 0.60 – 1.00% , Si- 0.15 – 0.35% , P- 0.050 Max & S - 0.050 Max .According to SteelMint sources, the company has concluded the tender last week for 150*150mm size for 30,000 MT at USD 416-420/MT, FoB. However other lots were cancelled amid limited participation. According to SteelMint analysis amid approaching holidays the material is expected to be sold by traders somewhere in mid Jan’20 which resulted in fetching slightly lower price.