Nepal’s domestic rebar prices fell further by NPR 3,000/tonne(t) ($25/t), w-o-w, due to weak demand along with a continuous drop in imported billet offers from India.
Fresh rebar offers of 10-16 mm size floated by mid-sized plants are reported at NPR 83,000/t ($700/t), while those from the major mills, producing premium brands are at NPR 85,000/t ($715/t). Prices are on ex-works basis, excluding VAT and ED.
Producers said that, prices will remain under pressure since rebar inventories have risen to more than a two-month high at most of the major mills. This is because of the seasonal slowdown in construction activities with the onset of the monsoon.
IF-grade billet import offers drop
As per SteelMint’s assessment, induction furnace (IF)-grade billet import offers into Nepal dropped by $15-20/t, w-o-w. Prices are currently hovering around $550/t levels, exw-eastern India, equivalent to $575-580/t, CPT Nepal, via road delivery.
Meanwhile, there are no fresh import deals reported for blast furnace- (BF) grade billets. Last deals for the same were at around $640-645/t, CPT Nepal.
Nepal’s billet imports rose 13% m-o-m
Nepal imported over 111,000 t of billets from India between 16 May’21 and 15 Jun’21, about 13% higher on imports recorded between mid-Apr’21 and 15 May’21 over 98,000, SteelMint data shows.
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