Indian primary mill has recently concluded billet export deals to Nepal for couple of rakes with increase price range by USD 5/MT.
The recent deal for 2 rakes (about 5,400 MT) blast furnace grade billets (size 125*125mm) concluded by a eastern India based large mill which deal price learned at near to USD 385/MT ex-mill, equivalent to USD 405/MT CPT Raxaul/Jogbani border. However during last week deals for the same grade billets were reported at near to USD 400/MT CPT Nepal, for 4 rakes (around 11,000 MT).
SteelMint learned that, the major mills in Nepal are quite active to book raw materials due to limited availability along with slight improvement in domestic demand.
In line with this, the mid sized mills in Durgapur, eastern India heard to have offering billet at USD 375/MT ex-mill. However few deals concluded yesterday were in the range of USD 370-372/MT ex-mill, equivalent to USD 395-400/MT CPT Raxaul border.
Although, no major fresh injuries reported for Wire rod and the average offer price assessed at USD 450-455/MT by mid scale mills & USD 455-460/MT by large scale mills; CPT Raxaul border, Nepal. The export deals during last week were reported for 2 rakes wire rod by large scale mill was at USD 455/MT CPT Raxaul border.
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