Indian billet manufacturers have kept their offers almost unchanged for steel mills based in Nepal, as compared to last week. On one hand where falling prices in Indian domestic market have hit steel maker's margins,on the other, falling Rupee has given them better realization.
According to trade sources, current offers from private manufacturers are made in the range of $ 435-440 per tonne on ex-plant basis in India and around $ 470-480 per tonne, delivered to Nepal border, for commercial grade billet. Prices are very much in line with domestic prices of Rs 26,500-27,000 per tonne (Basic prices, Ex-Works,India).
According to a re-roller based in Nepal, steel prices are not very encouraging at the moment. He said local market is highly influenced by Indian market, which at the moment is also not performing well. There is an import duty of 5% on importing billets, 30% on importing re-bar and 15% on structural products, he further added.
On offers from SAIL, he said, ” SAIL prices are generally higher by $ 30-40 per tonne than other private players.”
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