Rashtriya Ispat Nigam Limited has issued two separate export tender for various steel products and pig iron on FOB basis on January 22nd 2015 with opening due on February 11th 2015

1. Billets (65x65, 75x75, 90x90) – 10000 tonnes

2. Billets (150x150) – 50000 tonnes

3. Blooms (200x200) – 25000 tonnes

4. Wire rod (5.5/6) – 6000 tonne

5. Rebar (16-32) – 6000 tonnes

6. Pig Iron (Steel Grade) 30000 tonnes

The bidders will have to quote as per existing terms of RINL and keep the offers valid till February 19th 2015. EMD of USD 6 per tonne for steel and USD 76500 for pig iron is required to be furnished by buyers before quoting. This is in addition to usual Permanent Deposit

With global steel market in free fall, it would be interesting to see the outcome of above tenders especially with the stringent terms limiting participation. Incidentally, MMTC has recently cleared a pig iron export deal at USD 310 per tonne FOB and Chinese billets as Alloyed Square Bars are being offered at USD 380 CFR India West Coast