India’s primary mills, based in the eastern region, raised their blast furnace (BF)-route billet export offers to Nepal by $20/tonne (t) on account of slight supply shortage.
The fresh offers are reported at around $795-800/t CPT Nepal and a rake deal has been reported recently.
Where induction furnace (IF)-route billets (produced by mid-sized plants) are concerned, offers were at $740/t exw-Durgapur, equivalent to $765/t CPT Nepal, down by $15/t, w-o-w.
Domestic billet offers in Nepal hovered at around NPR 97,000/t exw ($792/t).
Rebars
Domestic demand in Nepal remains subdued. Due to volatile billet prices in the Indian market, domestic rebar offers in Nepal increased by NPR 2,000/t ($16/t) and were reported at nearly NPR 110,000/t ($898/t) on an ex-works basis, excluding VAT.
Local rebar prices in Nepal are expected to remain volatile amidst price fluctuations in the Indian market.
Wire rods
Demand remained moderate from Nepal and offers for commercial grades, produced by mid-sized plants, are hovering at $830/t CPT Nepal, while BF-route wire rod (SAE 1008) offers are stable at $870/t CPT Nepal.
Sponge iron demand remains weak
Furnace owners remained silent in terms of bookings of sponge iron from India amidst unscheduled power cuts and moderate finished steel demand followed by volatility in Indian steel prices.
Fresh offers stood at $540/t CPT Nepal for FeM 80%, lumps 70%, fines 30% material.
Leave a Reply