en.Wedoany.com Reported - India's state-owned steel enterprise Rashtriya Ispat Nigam Ltd (RINL) has recently completed a billet export tender for 30,000 to 60,000 tons, at a free-on-board price of approximately $477.5 per ton (FOB East Coast of India), with Saudi Arabia and Oman believed to be the final destinations.

This transaction is one of a series of billet export tenders completed by RINL within a few weeks, indicating that the company is significantly increasing its share of semi-finished product exports. Market participants point out that domestic long product demand is weak, especially with the approaching monsoon season, making the production of finished long products such as TMT rebar and wire rod less attractive.

Industry sources say that under pressure from the domestic market, RINL is increasingly shifting its sales focus toward billet exports to improve cash flow and optimize operations. The Middle East has become a major export destination for Indian billets, benefiting from relatively better local demand and export realization margins.

Market participants expect that RINL will remain active in the billet export market in the short term, as weak domestic long product demand and the slowdown brought by the monsoon season continue to constrain local sales opportunities.

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