Indian Billet & Wire rod export offers to Nepal have moved up against last week. However not significant deals were reported.
The current offers for Induction grade Billet hovering at USD 520-525/MT ex-Mill, Durgapur, equivalent to USD 545-550/MT CFR Raxaul/Jogbani border, Nepal. Last week price assessment for the same was around USD 510/MT, ex-mill Durgapur. Thus on weekly basis, offers have inched up by USD 10/MT following surge in Indian domestic offers.
Similarly present offers are being heard for blast furnace grade Billet at around USD 550/MT CFR Raxaul/Jogbani border, Nepal.
Participants reported limited buying from Nepal’s re-rollers as offers are quite high compared to large mills expectations.
Small parcels of Wire rod were heard to have sold at close at USD 595-600/MT ex-mill, Durgapur & equivalent to USD 620-625/MT CFR Raxaul/Jogbani border, Nepal. Meanwhile offers through the large mills for Wire rod produced from blast furnace grade Billets evaluated at USD 620-625/MT CFR.
Vizag Steel’s (RINL) export tender to Nepal for which due date was on 5th Sep’18 and the offered quantity was 10,836 MT for Wire rods and 2,709 MT for Billets, had received good response. The highest bid was reported for Billet (75*75mm, 90*90mm IS 2830) at USD 503-505/MT & for Wire rod (5.5-8mm, SAE 1008) around USD 593-595/MT. On CFR basis this will cost high by USD 30-40/MT, CFR Raxaul/Jogbani border, Nepal.
Statistics
Nepal’s Billet imports from India fall slightly by 5-6% on monthly premises. Nepal has imported about 126,041 Billet in Aug’18 as against 133,859 MT in Jul’18. In context to total imports, Nepal has imported about 786,283 MT Billet during Jan-Aug 2018, increase from the same preceding last year at 725,068 MT.
Sponge iron imports in Nepal stood at 9,811 MT in Aug’18, declined about 6.7% M-o-M as compared to 10,513 MT in Jul’18. Nepal’s Sponge imports in 2018 (Jan-Aug) from India recorded at 69,638 MT, declined by 5.8% as compared to 73,892 MT in 2017 (Jan-Aug).
Nepal’s Finish long steel (Rebar, Wire rod & Structure) imports from India continue to rally and recorded at 28,834 MT in Aug’18 as compared to 14,650 MT in Jul’18, increased by 96.8% M-o-M. Further on yearly comparison, the imports in 2018 (Jan-Aug) stood at 224,912 MT as against 191,998 MT in 2017 (Jan-Aug).
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