Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated an export tender for 60,000 mt of 3SP/4SP/4SP-M billets for shipment by August 23, the company announced on August 3.
The last date for submission of bids has been fixed for August 6, 2026, with a minimum bid volume of 30,000 mt. Delivery would be executed against irrevocable without recourse international letter of credit on payable on sight terms.
Market sources said the new tender is being floated as the mill failed to close the previous auction for the same volume held last week. The tradable level is assessed as being not above $450/mt FOB, after the latest decline seen in China. The Indian mill had previously targeted $460/mt FOB.
