Eastern India Billet Market Supported on Hefty Bookings by Nepal Re-rollers
Mining News Pro - As per trade sources, the re-rollers in Nepal are continue to remain active for Indian induction grade Billets and have booked good volumes in Eastern India - West Bengal & Odisha.


As per trade participants around to 8,000-10,000 MT (equivalent to 3-4 rakes) Induction grade billets have been booked in last 3-4 days by Nepal based renowned mills in East India.

On an average the deal price for the Billets reported at USD 475-480/MT ex-mill, Durgapur & loaded to rake - Odisha, equivalent to USD 500-505/MT CFR Raxaul border (Nepal). About 2-3 rakes of Billets booked in Odisha and small lots have been concluded from Durgapur.

The current export offers for Induction grade Billets increase further and are assessed at around USD 490/MT ex-mill, Durgapur & loaded to rake, Odisha. On CFR basis, this price will charge high by around USD 25/MT CFR Raxaul border (Nepal). The prices rally on account of active export demand and spurt in domestic sponge prices.

Further as per participants, small parcels of sponge iron exports being concluded to Nepal from Odisha & Jharkhand at near about USD 325/MT ex-mill & FeM 78-80 lumps.

Meanwhile, as per suppliers no major inquiries for Wire rods and the current export offers to Nepal by Durgapur based Medium mills reported at around USD 540-545/MT ex-mill, which will charge about USD 565-570/MT CFR Raxaul border (Nepal).

Nepal`s Local Rebar Prices Increase

The local steel demand in Nepal remain bearish, however with rise in input cost on increase Indian billet export prices, the manufacturers in Nepal didn`t have option than to surge prices of final products. As per producers the local Rebar prices in recent increase about NPR 1,000-2,000/MT (USD 9-18 or INR 600-1,200/MT).

The latest offers for commercial grade rebar in Birgunj, Nepal by small mills reported at around NPR 72,000-73,000/MT (USD 657-666/MT or INR 45,050-45,700/MT) and by the large mills (premium brands) hovering at NPR 75,000-76,000/MT (USD 684-693/MT or INR 46,950-47,550/MT). The prices are ex-works, size 10-20mm and excluding VAT at 13%.



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