Primary mills based in eastern India have concluded billet & wire rod export deals to Nepal for quantity of about two rakes for each product.
— As per Nepal based buyers they have booked about two rakes, equivalent to 5,500 MT billets at $400/mt CPT Nepal, Raxaul border. While the suppliers claim the deal has been concluded at around $410-415/mt on CPT Nepal basis.
— In context to wire rod, the buyers in Nepal have reported bookings at around $450/MT, while through the Indian producer the price range reported is higher by $15/mt to $465/mt CPT Nepal, Raxul border.
It is also learned that there is quite good buying interest from Nepalese mills for Indian BF grade steel products, while inquiries with the secondary mills remained poor as landed cost of billet & wire rod from both the suppliers are mostly at par. Offers from Indian secondary mills are hovering at $405/mt for billet & $465-470/mt for wire rod; CPT Nepal via road delivery.
Local steel demand in Nepal
Local steel demand in Nepal is reported to have remained on average basis. Mills don’t have much stock of finished products as they are running units at below 50% capacity.
Domestic rebar prices in Nepal have remained firm at around NPR 65,000/MT (INR 40,850/MT or USD 540/MT); ex-works, Birgunj/Bhairva, size 12mm & excluding local taxes.
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