Indian state-run steel producer Rashtriya Ispat Nigam Limited has floated an export tender for 30,000 mt of prime concast steel billet for shipment by August 31, company sources said. The last date for submission of bids has been set for July 14, for a minimum bid volume of 20,000 mt. Delivery will be completed for 100 percent advance payment.
Following some rises in prices for billets in Asia and Turkey, the trend has been reversed. While in the previous tenders the Indian producer was targeting $520/mt FOB, the current reference price is at $500-510/mt FOB.