As per producers in Nepal, the long steel – Rebar prices in domestic market down by NPR 2,000-3,000/MT (USD 18-27) in current week. The reason behind the price fall is seasonal poor inquiries in local market & declining Indian domestic and export prices. Nepal’s 90-95% of steel imports is made from India, as per data maintained by SteelMint stats.
The current prices for commercial grade Rebars by small mills in Birgunj, Nepal reported at NPR 72,000-73,000/MT (USD 657-666/MT or INR 45,200-45,900) & the premium brands (big plants) offers hovering at NPR 74,000/MT (USD 676/MT or INR 46,500). The prices are ex-works, size 10-20mm and excluding VAT at 13%.
Indian export offers to Nepal down by around USD 10-15/MT in fresh deals
As per SteelMint assessment, the latest export offers to Nepal for Indian Induction grade billet (100*100mm) down to around USD 450/MT as against offers couple of days ago around USD 460-465/MT ex-mill, Durgapur. Siimilarly offers through Odisha, Rourkela based manufacturers being reduced to USD 445/MT ex-mill.
The participants in Nepal mentioned, June to Aug/September period is the lean season for steel trades as monsoon have heavily affected the construction, house works and the steel prices trend to have down during this time.
Wire rod export offers to Nepal being reduced by medium mills based in East India-Durgapur by USD 10-15/MT and currently reported at around USD 520/MT, prior to this the last deal were reported at around USD 530-535/MT ex-plant.
Statistics
As per custom data maintained by SteelMint stats, Nepal’s billet import from India during Jan-Jun’18 (H1) is fell about 6% and stood at 526,384 MT as against 560,281 MT in Jul-Dec’17 (H2).
However, the nations Long steel (Rebar, Structure & Wire rod) imports, climbed by 12% and stood at 181,429 in Jan-Jun’18 as compared to 162,227 MT during Jul-Dec’17.
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