Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated an export tender for 60,000 mt of 150 mm/200 mm 3SP or 4SP billets for shipment in early August (by August 10), company said on June 27.
The last date for submission of bids has been fixed for July 2, 2026, for a minimum bid volume of 30,000 mt. Deliveries will be executed against irrevocable international letter of credit on payable on sight terms.
Just late last week, the producer floated another tender, for 30,000 mt of 150 mm SAE-1008/1010/1018 billets, which is also expected to be closed this week.
As SteelOrbis reported earlier, RINL had held two tenders for 30,000 mt each of 3SP/4SP billets a week ago, but it failed to close them, according to sources, as one of them had advance payment terms, unfavorable to all traders, and other one received lower-than-expected bids - at $460/mt FOB or so. So, the mill has decided to keep offering to the export market, but it is questionable if any higher bids are possible this time, especially as China’s 3SP billet reference price stands at $460-465/mt FOB.
