Indian state-run trading firm MMTC Limited is seeking overseas suppliers of cold rolled grain-oriented (CRGO) steel to make regular shipments based on long-term agreements, a company source said on Thursday, February 28.
The source said that overseas suppliers chosen by MMTC need to have exported at least 30,000 mt of CRGO steel to India over the past three years.
The price and commercial terms will be finalized between MMTC and the chosen overseas suppliers prior to the placement of an import order with each of the suppliers, the sources said. Foreign steel producers will need to secure certification from the Bureau of Indian Standards (BIS) to supply CRGO, as is mandatory for all overseas steel product exporters to India.
The grades of CRGO that MMTC intends to source from overseas suppliers on a long-term basis include grade M-4 of 0.27 mm thickness, grade 23HPD85 of 0.23 mm thickness and grade 23MOH of 0.23 mm thickness, the sources added.