About two-three rakes of blast furnace (BF)-route billet deals were reported to Nepal this week. Mills in Nepal remain active in booking BF billets due to competitive prices compared to induction furnace (IF) route material.
- The average price of BF billets was heard at $620/t, while fresh offers are higher at $625-630/t CPT Nepal.
- Fresh offers of IF billets from India have risen to around $590/t as against deals for around 1,000-1,500 t in the beginning of this week at $575-580/t exw-Durgapur, equivalent to $600-605/t CPT Nepal.
Wire rod deals
- One rake of BF wire rod (SAE 1008) deal was also reported this week at around $680/t CPT Nepal.
- Wire rod offers from mid-sized mills are stable, w-o-w, currently standing at $640-645/t exw-Durgapur, equivalent to $665-670/t CPT Nepal.
Sponge iron offers rise
- Indian sponge iron (iron ore-based DRI, 70% lumps and 30% fines, FeM 80%) export offers increased this week by $5-10/t to around $440-445/t (loaded on to rake), equivalent to $465-470/t CPT Nepal. About two rakes were reportedly sold this week at around $435/t (loaded on to rake), equivalent to $460/t CPT Nepal.
Nepal’s domestic rebar prices stable
Domestic rebar offers in Nepal remain stable due to limited demand on fluctuating Indian steel prices and Nepal’s half-year financial closing. Hence, liquidity crunch remains as companies and stockiests are busy managing their books, sources based in Kathmandu informed.
- Rebar offers from standalone mid-sized rolling mills for 10-20 mm were reported at around NPR 83,000/t ($697/t), while offers from the premium brands were at about NPR 85,000/t ($713/t). Prices are on an ex-works basis, excluding VAT.
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