Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, had floated a tender for export of 11,008 MT billet to Nepal on 27th Feb’18. The offered billet in the tender comprises size 90×90 mm & grade – IS2830 C20MMn.
The last date for tender bid submission was on 3rd Mar’18 and validity expires on 10th Mar’18. Delivery for the material was scheduled by March end.
According to sources, RINL has concluded the tender with a higher price at around USD 518-520/MT (ex-mill) and the buyers are Panchakanya Steel and Himal Iron & Steel, the prime rebar producers based in Birgunj/Bhairahawa in Nepal.
Prior to this, RINL’s export tender to Nepal for 5,504 MT Billet & 11,008 MT bloom was concluded during the mid of Feb at around USD 510/MT (ex-mill).
Small Mills Offers Rise
The small mills in West Bengal-Durgapur has also raised billet export prices for Nepal by USD 10/MT W-o-W and are currently hovering at USD 520-525/MT ex-mill.
According to the manufacturers in East India- Durgapur & Odisha, Billet & Wire rod demand has improved from the Nepalese mills over strong domestic demand in the country.
The local rebar prices in Nepal for commercial grade are reported at around NPR (Nepalese Rupee) 74,000-75,000/MT (INR 46,400-47,000/MT or USD 715-723/MT) 10-20 mm & excluding VAT. The price increase by NPR 2,000-3,000/MT (INR 1,250-1,900/MT or USD 19-29/MT), W-o-W.
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