Posted on 03 Aug 2021
Rashtriya Ispat Nigam Limited (RINL) has floated export tenders for billet, bloom, and wire rod for September deliveries. The tenders are open only for bidders who deposited with RINL a pre-bid earnest money deposit (EMD) of $20,000, Kallanish notes.
New bidders are instructed to register with the company by providing their details two working days before the bid opening date, says the tender document.
The company has invited two-part biddings for 65mm and 90mm square billet in two separate tenders, with a minimum bid quantity of 10,000 tonnes each and a maximum bid quantity of 10,000t and 20,000t respectively. The length of the billet will be 12m and a 5% tolerance in grades and size is advised by the company.
Another tender is for 150x150mm 3SP/4SP blooms with minimum and maximum bid quantity of 30,000t and 60,000t respectively in a two-part bidding. The length of bloom will be 12m, with a 5% tolerance in size and grades.
In a separate tender, RINL invited two-part biddings for SAE 1008, 1010, 1012, 1012S and 1018 grade 5.5/6.5mm diameter wire rod. The minimum and maximum bid quantities are 8,000t and 12,000t respectively. The weight of wire rod will be 2-2.10 t/coil and bidders are instructed to quote a minimum of 2,000t of a specific size – 5.5mm or 6.5mm – within the overall minimum bid quantity of 8,000t.
The deadline for the submission of documents and EMD for billet and wire rod will be 4 August 12:00am IST, and 3 August 12:00am IST for blooms. Incoterms for delivery will be fob Visakhapatnam and payment terms will be an irrevocable letter of credit at sight.
Source:Kallanish
