According to SteelMint’s weekly price assessment the local Rebar prices in Nepal have remain unaltered in line with constant active domestic demand and volatility in Indian steel prices. Indian steel export offers to the Nepal also remained stable.
The producers in Birgunj, Nepal reported latest offers for commercial grade rebars at around NPR 74,000-75,000/MT (INR 46,550-47,200/MT or USD 715-725/MT). However, the prime brands rebar in Biratnagar & Bhairva are heard at NPR 76,000-78,000/MT (INR 47,800-49,100/MT or USD 735-755/MT). The prices mentioned above for 10-20 mm & excluding VAT.
The Nepalese producers stated, export offers by Indian steel makers have remained unchanged in current week which made bullish trends in the local market.
The latest export offers to Nepal by Indian medium mills are reported for Wire rod (5.5 mm, commercial grade) at USD 590/MT & Induction grade Billet size 100*100 mm at around USD 510/MT ex-mill, Durgapur – East India. The offers are similar against SteelMint’s last week price assessment. On CIF Nepal basis these offers will cost high approximately by USD 15-20/MT.
The large producers offers for Wire rod (5.5-6.00mm, grade – SAE1008) are also reported firm at USD 700/MT ex-mill & USD 715-720/MT CIF Nepal (Indo-Nepal border).
The manufacturers in Nepal stated that their waiting for export tender to be published by RINL (known as Vizag Steel) for Billet & Wire rod exports to Nepal for Apr 2018 deliveries. RINL’s last billet export tender of 11,008 Nepal was concluded in the beginning of current month (Mar’18) at around 515-520/MT ex-mill.
Further, Sponge iron export offers to Nepal are heard at around USD 330/MT for FeM 78-80 Sponge C-DRI (DRI), ex-plant, Durgapur/Jharkhand. Nepal’s average Sponge iron consumption is about 5,000-10,000 MT per month for which supply from India largely made through West Bengal, Jharkhand & Odisha, Eastern region.
MS Billet & Sponge Imports in Nepal 2014-2017
| Nepal Billet Import | ||||
| Exporting Country | 2014 | 2015 | 2016 | 2017 |
| India | 5,80,889 | 4,78,169 | 10,36,024 | 11,17,327 |
| China | 14,552 | 19,255 | 73,767 | 0 |
| Total | 5,95,441 | 4,97,423 | 11,09,791 | 11,17,328 |
| Nepal Sponge Iron Import | ||||
| India | 95,487 | 55,439 | 71,090 | 1,50,212 |
Source: Nepal Custom, SteelMint
Quantity in MT, Provisional Data
SteelMint learnt that, the mill owners in Nepal are hopeful for better demand on anticipation of boost in domestic construction activities with the stabilized new government. Recently the country’s new government has formed through legislative elections held in Dec 2017.
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