Indian state-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated an export tender for 15,000 mt of prime steel rolled billets for shipment by July 31, company sources said on Friday, June 16.
The last date for submission of bids has been set for June 19 for a minimum bid volume of 2,000 mt, the sources said.
Shipment will be concluded against irrevocable international letter of credit payable on sight.
The steel producer earlier this week floated an export tender for 30,000 mt of prime steel concast billet, bids for which are scheduled to close today, June 16.
Industry sources said that the company has emerged as an aggressive seller in the overseas market buoyed by the slight revival in the market for semis across Asia and the Gulf, with buyers inclined to accept slightly higher prices.
They, however, pointed out that the mood and sustainability of improvement in overseas markets are likely to be set by the levels of bids received by these two recent export tenders.