Indian primary mills have raised billet & wire rod export offers to Nepal over USD 30/MT against Apr’20. The offers have been increased on account of better realization in global deals & price rally by mid scale mills in eastern India by INR 1,000-2,000 (USD 13-24)/MT in May’20.
— Current offers of blast furnace grade billet by primary mills learned at USD 370-380/MT as against deals during mid of Apr’20 at near to USD 340/MT; EXW eastern India.
— Similarly the wire rod (SAE 1008) offers are currently around USD 440-450/MT for which earlier deals were at around USD 410/MT, EXW in eastern India. Freight cost via rake to Nepal is assessed at USD 15-20/MT.
— However the buyers based in Nepal have reported that, they can easily get material of primary mills at less price by USD 20/MT than official quotations, which is equivalent to USD 355-360/MT for billet & USD 420/MT for wire rod; EXW, eastern India.
— Meanwhile, the export offers of mid scale mills from Durgapur is hovering at USD 355-360/MT for billet & USD 415/MT for wire rod, EXW. Freight cost via road delivery to Nepal is reported at USD 30/MT CPT Nepal.
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