Trade activities in Nepal steel market remains quiet as participants are busy with year ending (which ends on 15th July) and seasonal slow down.
Local mills reported rebar prices being stable at around Nepali currency 57,000-58,000/MT (USD 552-561) and billet prices at around USD 420-430/MT, delivered Nepal border.
“This is generally is a dull period for steel trade in Nepal. Construction activities remain low due to monsoons and picks up during September, when it gets over. Also with year ending, people are busy closing their books.” said a local rebar mill based in Nepal.
Trade Wise:
1. Vizag steel (RINL) has floated an export tender of 11,008 MT of billets of size (90*90mm) exclusively for Nepal. Last tender of same specs by Vizag steel was closed at above 400/MT (Ex-Mill).
2. Durgapur based mills are offering billets at around INR 25,550/MT (Ex-Mill).
3. Global billet prices move up by USD 10-15/MT in last one week on strong demand and rising scrap prices.
Leave a Reply