May Diesel Tender

Indian Oil Corporation (IOC) has received low price offers in its buy- tender for May delivery, so is expected to buy around 400,000 to 500,000 tonne of diesel, traders said yesterday. IOCs tender to buy both 0.25 per cent and one per cent sulphur high speed diesel (HSD), closed March 19 and was expected to be awarded later yesterday. Prices are very low, a trader said. One Japanese trader has offered $2.08 for both the 0.25 per cent and the one per cent sulphur cargoes.