Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated an export tender for 30,000 mt of 150 mm prime concast steel billet for shipment by May 20, company sources said on Monday, April 8.
The last date for submission of bids has been fixed for April 16, for a minimum bid volume of 10,000 mt.
Delivery will be against 100 percent advance payment.
The previous tender held in late March was heard to have received the highest bid at $482/mt FOB, but there was no confirmation of whether the mill had accepted it, as the previous producer’s target was $490-500/mt FOB. It is unlikely that bids will improve in the coming week since the improvement in the Chinese market is very slow.