India: Vizag Steel Concludes Billet Export Tender to Nepal

Rashtriya Ispat Nigam Limited (RINL) - a state-owned steel maker under the Ministry of Steel, had issued tender for export of billet (IS 2830, C20MMn 90*90mm) to Nepal. The last date for bid submission was on 16 Aug’18. The material delivery is scheduled by 31 Aug’18.

According to market sources report to SteelMint, the company has concluded deal for 4 rakes for billet export at around USD 503/MT, ex-mill. Indian mills are likely to turn active for exports amid currency depreciation.

Earlier to this, the steel maker concluded tender for 1 rake of billet (90*90mm) to Nepal at around USD 500-505/MT (ex-mill).

Indian induction grade billet export offers for Nepal- As per market participants in Eastern India, the buying inquiries from Nepalese mill owners remained average over rising Indian domestic prices. And they added, buyers in Nepal have booked material at around USD 485-490/MT (ex-mill) in the last week as per necessity & small lots have been booked on daily basis.

While a renowned rolling mill owner based in Nepal reported Indian induction grade billet export offers at USD 495/MT ex-Durgapur, East India.

Nepal has imported about 133,900 MT Billets from India during the month of Jul`18, which is all time high since data available with SteelMint from Jan`16 and also higher by 36% M-o-M as against 98,500 MT in Jun`18.