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 January 10, 2024.
The last date for submission of bids has been set for November 28, for a minimum bid volume of 20,000 mt.
Delivery will be executed against 100 percent advance payment.
Market sources believe that the “floor price” targeted by the mill will be $520/mt FOB, though some said that the expectations are higher at up to $530/mt FOB. Private sector Indian mills have already voiced very high offers of $540/mt FOB.