After a long gap, a Jharkhand-based private steel mill has floated a BF grade billet export offer to Nepal at around $620/t, exw (loaded on to rake) – equivalent to $635-640/t, CPT Nepal. Buying from OCEAN markets has remained bearish due to quarantine-related issues in China. Bids dropped sharply in a recent tender for BF route billet to $610/t, FoB. Indian primary mills have turned to the Nepal market for exports and have sold a decent volume of around 15,000 t of billet till date in Jun’21 at an average price of $640-650/t, CPT Nepal.
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