Jindal Steel & Power Limted (JSPL) has booked two rakes (equivalent to 5,500 MT) of prime grade billet for Nepal from its Raigarh, Central India plant. Sources report that cargo has been booked at around USD 560-565/MT (Ex-Raigarh), which is equivalent to USD 620/MT CFR Raxaul border (Nepal).
Last tender of 11,008 MT billet (expired on 1st Jun’18) by Vizag steel was concluded at USD 550/MT, ex-Vizag, which is equivalent to USD 595-600/MT CFR Nepal border
Induction grade billet to Nepal being sold at USD 550/MT (Ex-Durgapur), which is equivalent to USD 585-590/MT CFR Nepal border
Nepal’s billet import from India recorded at around 1.08 MnT in 2017 as against 1.05 MnT in 2016.
Nepal steel demand is around 1.5-1.6 MnT, of which 1 MnT is longs and 0.5 MnT is flats.
Nepal government has allocated 1,315 billion in his budget for Fiscal year 2018-2019 with a major focus on transforming the production sector and to develop physical infrastructure, this may remain strong steel demand in the country.
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