India’s RINL floats export tender for 30,000 mt of billet, exports still inactive overall

Wednesday, 03 January 2024 15:16:25 (GMT+3)   |   Kolkata
       

India’s state-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated an export tender for 30,000 mt of prime 150 mm steel billet for shipment by February 20, 2024, company sources said on Wednesday.

The last date for submission of bids has been fixed for January 9, 2024, for a minimum bid volume of 20,000 mt. Delivery will be executed against 100 percent advance payment, the sources said.

In general, the mood in the Asian billet market is cautiously positive and, as a result, RINL will target $530/mt FOB or so, versus previous targets of $520-530/mt FOB, though the previous tender failed to be closed.

However, except for this RINL tender, the Indian billet export market has remained inactive due to the holidays and the unclear local market trend.


Similar articles

Lower scrap prices put Turkey’s billet imports under pressure after previous deals

21 Nov | Longs and Billet

Chinese billet still most competitive in SE Asia’s import market, outlook cautiously negative

21 Nov | Longs and Billet

Feralpi highlights importance of European steel at EUROFER event in Brussels

20 Nov | Steel News

Ex-India billet prices stable, but sellers halt exports amid wide bid-offer gap

20 Nov | Longs and Billet

Ex-China billet prices hit bottom for now as another stimulus expected, ex-ASEAN deals sporadic

19 Nov | Longs and Billet

Kazakhstan bans semi-finished exports for six months

19 Nov | Steel News

Global View on Billet: China’s bearishness impacts most markets, outlook turns negative

15 Nov | Longs and Billet

Billet prices for SE Asian buyers fall, but trading not so active with more declines possible

14 Nov | Longs and Billet

Ex-India billet under great pressure, rebound in local market attracts sellers’ focus

13 Nov | Longs and Billet

Import billet prices down in Turkey, but interest in large lots rises

12 Nov | Longs and Billet