Indian steel mills have
reduced Billet offers to re-rollers in Nepal by $5-10/t from that of last week amid
falling billet prices in Indian domestic market.
Current offers for 125*125 mm
billet is at around $555-560/t CFR Nepal, which was at $560-565/t CFR Nepal last
week but buyers seem to be uninterested at new offers.
Nepal is stacked
in electricity crisis which in turn is affecting the country’s steel production
process to meet its domestic demand-supply.
“Current offers
from Indian manufacturers stand at $555-560/t CFR Nepal.
We are not willing
to take position due to power crisis in the country, but expect offers
to come down furtherâ€Â, said a steel re-roller based in BirGanj, Nepal.
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