Indian government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has opened an export tender for 20,000 mt of prime steel rolled billet for shipment by mid-October, as announced on August 30. The billet size can be for buyers' option of 65x65 mm, 77x77 mm or 90x90 mm. The last date for submission of bids has been set for September 10, 2025, for minimum volume of 5,000 mt. Delivery would be executed against irrevocable without recourse to drawer international letter of credit payable at sight terms.
Since this size is not very popular among Asian buyers, bids may come at rather lower levels, the sources said. Moreover, since the mood is weak in China even despite production cuts, market sources expect that buyers will eye below $430/mt FOB.
In addition, RINL has floated another two tenders for 20,000 mt of steel round bars each – one is for SAE 1018 grade, another one – for EN 8D. Shipment and payment terms are the same as in the billet tender.
