A private steel mill in Odisha, eastern India, has concluded a rake (2,700 t) of IF grade billet export deal to Nepal at $560/t, loaded on to rake – equivalent to $585/t, CPT Nepal. As per sources, the mill has also concluded a 1,550 t (one rake) of wire export deal to Nepal at $610/t, loaded on to rake, which is roughly around $635-640/t, CPT Nepal. With the outbreak of the second COVID wave, steel demand has nosedived in India thereby putting pressure on prices. As a result, producers have turned their attention to the export market, SteelMint notes.
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