Nepal mills are actively booking Indian induction route billets from steel mills in Eastern region even though the offers are all time high. The current domestic billet prices in India trending high since 2011, as per data available with SteelMint.
As per suppliers, the fresh export deals to Nepal for Induction route billets have been settled at an average price of USD 541-543/MT ex-mill, Durgapur. Meanwhile, the quoting price reported not less than USD 545/MT ex-mill.
Similarly, Rourkela – Odisha based mills also reported Billet export deal for Nepal during previous week at around USD 535/MT, although latest quote reported at around USD 540/MT; ex-mill. As per producers, dispatches are still due for the deals made during Mar-Apr’18 due to limited allotment of rakes.
A recent deal also reported by a regular supplier of Indian Sponge iron to Nepal at USD 315-317/MT ex-plant, Raigarh – Central India. The material comprises mix ratio of fines/lumps, loaded to wagon & FeM 80 +/-1.
In context to Finished steel, the medium mills in Durgapur quoted Wire rod export offers to Nepal for commercial grade, 5.5mm at USD 615/MT and the last trade assessed at close to USD 612-613/MT, ex-mill. On CFR Nepal basis this offers would be around USD 635-640/MT, Raxaul or Jobani border (Indo-Nepal border).
Meanwhile, offers for low carbon Wire rod 5.5-6.0mm by Indian large producers like JSPL heard at around USD 675/MT CFR Nepal – Raxaul or Jobani (Indo-Nepal border).
RINL Export Tender to Nepal
Rashtriya Ispat Nigam Limited (RINL) the state owned steel maker has invited a fresh export tender to Nepal after a month gap and the offered quantity at about 11,008 MT Billets and 5,504 MT Wire rods. Plant has a capacity of 7.3 MnT and production of 4.41 MnT crude steel.
The company has scheduled last date for bid submission is 1st Jun’18 and the offer given by bidder will remain valid till 8th Jun’18. As per the delivery schedule, last date of delivery shall be 30th Jun’18.
Prior to this, the company’s last export tender was floated in during mid Apr’18 for 22,016 MT Blooms – 150*150mm & 200*200mm (equivalent to 8 rakes). The tender was settled at around USD 510-515/MT ex-mill.
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