Local Steel – Rebar prices in Nepal remained firm, however Indian steel export offers to Nepal declined by about USD 5-10/MT, Week-on-Week.
As per SteelMint assessment, the current offers for commercial grade rebars by small mills in Biratnagar, Nepal have been reported at NPR 74,000/MT (INR 46,400/MT or USD 714/MT).
Further, the prime brands’ offers in Birgunj, Nepal are assessed at NPR 76,000-78,000/MT (INR 47,700-48,900/MT or USD 733-752/MT). The prices mentioned above are for 10-20 mm & are excluding VAT.
As per one of the large mills in Birgunj who’s finished long steel production is about 6,000-8,000 per month reported scarcity of Billet in most of the major plants due to rake issues from India.
According to him, the availability of rakes is limited, thus mills who usual source material via rake are opting for road transportation and this has intensified shortage of billets in the local market. However, local rebar sales are reported to be strong following peek construction season amid establishment of new government.
Import Offers Fall
Nepal’s steel Import is majorly made from India and with significant fall in Indian domestic steel prices, the export offers to Nepal also reported slump of about USD 5-10/MT in a week.
The latest export offers to Nepal for Induction route billets by medium mills in Durgapur reported at USD 500-505/MT, against last week at USD 505-510/MT (ex-mill) Durgapur & size – 100*100mm.
Further, Wire rod (5.5 mm, commercial grade) export offers to Nepal stood at USD 580-585/MT ex-mill, Durgapur East India, which was about USD 588-590/MT a week ago. On CIF Nepal basis the latest offers will translate to around USD 600-605/MT.
Sponge iron (78-80 FeM, lumps) export offers also dipped about USD 5-7/MT and are currently heard to be around USD 325/MT ex-works, bag packing & loaded to wagon – Durgapur/Odisha/Jharkhand.
Large Producers Wire rod Export Offers Firm
As per purchase sources in Nepal, wire rod export offers by large mills in India have remained unchanged. As per them, offers for SAE1008 grade Wire rod by JSPL are at around USD 720/MT CIF Nepal (Indo-Nepal border) from its Patratu, Jharkhand unit.
Another large producer based in Bokaro, Jharkhand also stated firm offers at USD 700/MT ex-mill, for which landed cost to Nepal would be around USD 715-720/MT.
However, SAIL’s export offers of Wire rod from its Burnpur plant have reportedly lower at around USD 615-620/MT ex-mill, as per rolling mills in Nepal.
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