Eastern India – Bengal based state owned Indian large mill in recently has concluded Billet export deal to Nepal for Jan’19 deliveries.
As per officials, about 10,800 MT (equivalent to 4 rakes, size 125*125 mm) Billet has been sold to one of the renowned mill in Nepal, which delivery to be scheduled in coming month.
The deal price for the material reported close to USD 470/MT ex-mill, this is equivalent to USD 490-493/MT CFR Raxaul border, Nepal.
Demand is not much good owing to poor demand of finished steel in Nepal over liquidity crunch following low investment in infra structure through the country’s government.
Further as per him, the small lots of Wire rod (6.0mm) being concluded couple of weeks ago at near about USD 550/MT, equivalent to USD 570/MT CFR Nepal.
Although the demand is limited at prevailing offers of Wire rod and the current price range reported not more than USD 545-550/MT ex-mill.
Another large mill based in Jharkhand, eastern India who is making blast furnace grade wire rod has offered 5.5mm at USD 570/MT. He also stated poor demand from the re-rollers in Nepal and mentioned, the prices are negotiable if buyers book healthy volumes.
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