<article><p class="lead">Indian state-controlled steelmaker Rashtriya Ispat Nigam (RINL) has floated two import tenders for the procurement of coking coal, based on a basket of two indexes, including Argus.</p><p>The long steel manufacturer requires 150,000t of hard coking coal and 150,000t of soft coking coal, each from a single source. It will accept blended coal provided there are not more than two coal brand components, according to the tender document.</p><p>The minimum quantity for both the tenders is 75,000t and it intends to take delivery from April with 19 April 2023 as the submission deadline.</p><p>The tender price has to be quoted on a free on board (fob) basis as a percentage of the published market price. The tender document defines the published market price as the average of the Argus and Platts premium low-volatile coking coal indexes.</p><p>The steelmaker earlier this week invited expressions of interest for <a href="https://direct.argusmedia.com/newsandanalysis/article/2433745">working capital funding or raw materials</a> against steel supply. It also <a href="https://direct.argusmedia.com/newsandanalysis/article/2428698">floated a global tender to procure 50,000t of billets</a> earlier in March.</p><p class="bylines"><i>By Sumita Layek</i></p></article>
