Indian state-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated an export tender for 30,000 mt of prime concast 150 mm steel billet for shipment by June 15, 2024, company sources said on Monday. The last date of submission of bids in the tender has been set for May 10, for a minimum bid volume of 10,000 mt.
The delivery will be executed against 100 percent advance payment.
The highest bid in the previous tender was reported at $505/mt FOB in late April, but some sources believe that the mill did not agree to this price, with its target at $515/mt FOB, and it is retendering the same volume, according to sources.