– Local demand for Rebar – a key construction material strengthens in Nepal.
– The renowned producers stated billet crisis due to logistic – rakes issue from India.
– Nepal’s steel prices are highly influenced by Indian market; the volatility in Indian Steel prices, the mills in Nepal maintaining offers firm.
The current rebar prices in Nepal for commercial grade are assessed at around NPR 74,000/MT (INR 46,300/MT or USD 710/MT) and the prime brands rebars in Biratnagar hovering at NPR 76,000-78,000/MT (INR 47,500-48,700/MT or USD 726-748/MT). The prices mentioned are for 10-20 mm & excluding VAT.
As per manufacturers in Nepal, demand for finished products continue to remain strong due to uptick in construction activities and also retail segment are taking interest following stability in prices. As per them, rebar stock with the mills are limited than the earlier.
Further they shared that there is stability in Indian Billet & Wire rod export offers. However, Sponge iron export offers reported decline of USD 5-10/MT, W-o-W.
The latest export offers for Nepal have reported
– Induction grade billet 100*100mm at USD 505-510/MT ex-mill, Durgapur & Rourkela.
– Wire rod 5.5mm, commercial grade by medium mills at around USD 590/MT ex-mill, Durgapur.
– Sponge C-DRI 78-80 FeM lumps, loaded to wagon & bag packing at USD 320-325/MT ex-works, Odisha & Jharkhand.
On CIF Nepal basis these offers would cost high approximately by USD 20/MT, CIF (Indo-Nepal border)
RINL (Vizag Steel) export tender received good response
Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, had floated a tender on 27th Mar for export of 8,256 MT billet (IS2830 C20MMn) & 5,504 MT Wire rod (Grade- SAE1008 & for 5.5mm and 6.0mm) to Nepal.
The minimum offered quantity was 2,752 MT for both products. The bid submission date for the tender was on 3rd Apr and the offers given by bidder are valid till 10th Apr’18.
As per participants, the company has received good response for the Wire rod export tender and the H1 bid for Wire rod reported at around USD 650-655/MT for 5.5 mm & USD 635-640/MT for 6.0 mm. However, the tender yet not concluded and under the process, as per sources.
The latest Wire rod export offers (grade SAE1008) by other Indian large steel makers are stable and are hovering at USD 700/MT ex-mill & USD 715-720/MT CIF Nepal (Indo-Nepal border).
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