India: Odisha-based secondary steel mill concludes wire rod export deal to Nepal

An Odisha-based private steel mill has reported an export deal of one rake (1,550 t) of commercial grade wire rod to Nepal at $640/t, loaded on to rake – equivalent to $655-660/t, CPT Nepal. Indian secondary steel mills are exploring export opportunities owing to weak domestic demand following ongoing lockdown restrictions in several parts of the country. Wire rod prices in the domestic market plunged by INR 2,000-3,000/t ($27-41) on week, as per SteelMint’s assessment.