Nepal’s rolling mills reported a further drop in rebar prices by NPR 3,000/tonne ($26/t), week-on-week (w-o-w). Plants are operating at 30-40% capacity utilization, following weak demand due to the ongoing lockdown which has been extended till 3rd June’21 in Kathmandu and surrounding districts.
Current rebar offers are reported at NPR 88,000/tonne (t) ($756/t) through mid-sized plants and at NPR 91,000/t ($785/t) through the major mills/premium brands. The prices are exw, excluding VAT, ED & for sizes 10-16 mm.
Import offers of IF-grade billets drop further
As per SteelMint’s assessment, induction furnace (IF)-grade billet import offers to Nepal have dropped by $5/t w-o-w. These are currently hovering around $570-575/t exw eastern India, equivalent to $600/t CPT Nepal, via road delivery.
Meanwhile, a large Indian mill is reported to have concluded a deal for two rakes of blast furnace (BF)-grade billets at around $650/t exw, equivalent to $665/t CPT Nepal.
Central India-based mills conclude wire rod deals
Raipur, central India-based mill recently concluded wire rod export deal of one rake (2,500 t) of controlled chemistry (SAE 1008) at around $635/t and one mini-rake (up to 1,500 t) of commercial grade at around $610/t exw during last week. The freight cost from Raipur to Nepal is around $25/t, CPT Nepal.
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