Nepal based mills have shown a moderate response in their fresh purchases of billet and wire rod from India, as stated by trade sources.
As per mid sized mills in Durgapur, export deals in small parcels are taking place, however no fresh bulk bookings via rake route.
On an average the deal price for induction grade billet (100*100 mm) was learned at USD 360-365/MT ex-mill (Durgapur), which is equivalent to USD 385-390/MT CPT Raxaul border, Nepal.
However there are no fresh deals by large scale mills as most of major producers in Nepal halted fresh bookings due to ongoing festive holidays which affected local steel demand & productions as well.
The offers for blast furnace grade billet offered by large scale mills was heard at USD 380-390/MT ex-mill, for which landed cost to Nepal would be around USD 400/MT CPT Raxaul border.
Amid weak demand, Nepal’s Billet import fell by around 20% M-o-M to 70,390 MT in Sep’19.
Coming to Wire rod, the offers by mid scale mills (commercial grade, 5.5mm) asssesed at around USD 415/MT ex-mill at Durgapur, equivalent to USD 440-445/MT CPT Raxaul border.
Meanwhile the large scale mills wire rod (SAE 1008, 5.5-6.0 mm) offers hovering at USD 440/MT ex-mill, this attracts freight cost of USD 15-20/MT CPT Raxaul boder.
Vizag Steel cancels steel export tender to Nepal – RINL had invited tender for export of 8,127 MT Billets, 5,418 MT Bloom and 8,127 MT Wire Rod. Due date of tender was 09 Oct’19 and material delivery has been scheduled on 15 Nov’19. As per sources, company has cancelled the tender amid low bids.
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