Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated two export tenders for 60,000 mt and 30,000 mt of prime concast steel billet for shipment by June 30, 2026, as announced by the company on May 2 and May 4.
The last date for submission of bids in the first tender has been fixed for May 7, 2026, for a minimum bid volume of 30,000 mt of 3SP/4SP 150 mm/200 mm billet. For the second auction, the final date for bids is May 8, 2026, and the minimum bid volume will be 30,000 mt of SAE1008 150 mm billet.
Delivery will be executed against irrevocable without recourse international letter of credit on payable on sight terms, the sources said.
As SteelOrbis reported earlier, the producer had floated export tenders for similar tonnages (90,000 mt in total) in late April, but, according to market sources, they were not finalized and the producer has decided to issue new tenders, hoping for better bids, as generally sentiments in the global billet market are cautiously positive. According to market sources, the seller's price idea is above $480/mt FOB for 3SP billet.
