The mid sized mills based in Durgapur & Odisha (eastern India) have sharply raised steel export offers to Nepal following surge in Indian domestic prices.
This week export offers of Billet & Wire rod to Nepal have surged by around USD 10/MT, meanwhile prices in domestic market gained by approximately INR 1,000-1,500/MT (USD 14-21).
As per sources in Durgapur, in the mid-week few of export deals for Billet (100*100) concluded at close to USD 440/MT ex-mill, equivalent to USD 470/MT CNF Nepal (Raxaul border). Meanwhile the offers today reported at around USD 445-450/MT ex-mill, in which no major deals were reported.
In context to Wire rod export offers, the mid sized mill in Durgapur have reported at USD 525/MT, although deals heard at close to USD 515-520/MT; ex-mill, equivalent to USD 545-550/MT CNF Nepal (Raxual border).
Further Billet export offers through the large mills are reported at around USD 480-485/MT & Wire rod at around USD 565-570/MT CNF Nepal. Meanwhile one of regular buyer in Nepal confirmed booking of a rake Wire rod (6.0 mm) with large mill at around USD 555/MT ex-plant, equivalent to USD 565/MT CNF Raxaul border (Nepal).
As per participants, response remained weak in recently floated export tender to Nepal by a stated owned Indian large mill in which about 8,100 MT Billet was offered. As per them the company has received highest bid at around USD 430-435/MT, although the producer is not looking to conclude it at less than of USD 445/MT ex-mill.
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