India’s government-run steel producer Rashtriya Ispat Nigam Limited (RINL) has floated an export tender for 60,000 mt of prime concast billet for delivery by July 20, 2026, as announced on May 21. The last date for submission of bids has been fixed for May 26, 2026, for minimum bid volume of 30,000 mt of 3SP/4SP 150mm/200mm billet.
Delivery will be executed to the successful bidder against irrevocable without recourse payable at sight international letter of credit.
This tender has been opened just after the previous one expired early this week. In that previous tender, market sources heard the highest bid for 30,000 mt billet lot was in the range of $470-475/mt FOB, and was below the seller’s target of $480/mt FOB or above. Market sources said that there has been information that the new RINL tender opened now because they decided not to sell in the previous one due to lower than expected bid. But “they will not also face resistance [from buyers], as China is down and everyone is looking for discounts,” an Asian trader said.
