According to Mining News Pro - Participants reported near about 2,500-3,000 MT billet have been booked for Nepal at an average price of USD 507-509/MT ex-mill Durgapur and loaded to rake (ex-mill) from Odisha. This will equivalent to USD 533-535/MT CFR Raxaul/Jogbani border, Nepal.
Buyers for the materials reported few of premium rebar makers based near to Kathmandu, Nepal.
An official from Nepal`s renowned mill being confirmed booking for more than 2,000 MT induction grade billet from Durgapur at around USD 507-508/MT ex-mill.
Towards the end of last week, billet export offers were assessed at USD 520-525/MT, ex-mill. Offers have come down this week following volatility in Indian domestic prices. Indian billet prices in Durgapur have come down by INR 500-1,000/MT (USD 7-15) in last 3-4 days.
Further a producer from Odisha stated booking of a rake billet for Nepal at the price of USD 508-509/MT (ex-mill), loaded to rake.
The Wire rod offers by the medium mills in Durgapur reported at around USD 580-582/MT ex-mill, however no major deals mentioned.
Large Mills Offer--
Billet & Wire rod export offers by the large mills produced through blast furnace route more or less firm currently than the last price assessment.
The current export offers by a large mill based in Jharkhand evaluated at USD 550/MT for Billet & USD 630-640/MT for Wire rod, CFR Raxaul border Nepal
Nepal`s local steel demand remains weak
SteelMint in conversation with few small scale & large scale mills in Nepal learned that local steel demand in Nepal continue to remain poor due to ongoing monsoon season in the land-locked country.
The mills have reported limited inquiries on increased prices following higher export offers from India.
The local rebar offers by medium mills reported at around NPR 80,000/MT (INR 49,800/MT or USD 689/MT) & through the big mills (premium brands) hovering at NPR 82,000/MT (INR 51,000/MT or USD 706/MT). The prices are ex-works, size 10-20mm and excluding VAT at 13%.
