An Eastern India-based primary mill has concluded 2-3 rakes (about 6,000-8,000 t) of billet export deals to Nepal at $540-545/t loaded to rake (equivalent to $560/t CPT Nepal), following which offers have been raised to $560/t loaded to rake. The Nepal buyers are seen to be highly-interested in booking primary mills’ blast furnace grade billet due to competitive offers over induction grade (secondary mills) billet, whose offers are hovering at $535/t exw Durgapur (equivalent to $560/t CPT Nepal). The local finished steel demand in Nepal is moderate and the rebar prices have fluctuated by NPR 500-1,000/t ($4-9) since the beginning of Mar’21.
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