- Eastern India-based mills sold around 4,000 t of induction route (IF) billets to Nepal in the last two days at around $717-723/t exw, equivalent to $740-745/t CPT Nepal.
- Unscheduled power cuts have resulted in the shut down of furnaces in Nepal, thus, leading plants to book billets instead of sponge iron from India.
- Nepal’s sponge imports may fall in this ongoing quarter, while billets imports will improve.
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