Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated a new export tender for 30,000 mt of prime concast billet (3SP/4SP 150mm/200 mm) for shipment by July 15, 2026.
The last date for submission of bids against the tender has been fixed for May 18, 2026, for the entire volume on offer. Delivery will be executed by the seller against irrevocable without recourse international letter of credit, payable on sight.
The new tender has emerged after the successful closure of two auctions for 90,000 mt in total a week ago. They were closed at $477-482/mt FOB, with the sales destination for 30,000 mt being Sri Lanka, while the rest was taken by a trader for the GCC market. Market sources commented that there is still some demand for import billets in the GCC. “$485/mt FOB from India is reasonable,” a source said. Even though China has similar offer prices and also can offer for July shipment, the final CFR-based price for Indian material will be lower to the GCC given the lower freight rate.
