According to Mining News Pro - The current offers for Induction grade Billet hovering at USD 520-525/MT ex-Mill, Durgapur, equivalent to USD 545-550/MT CFR Raxaul/Jogbani border, Nepal. Last week price assessment for the same was around USD 510/MT, ex-mill Durgapur. Thus on weekly basis, offers have inched up by USD 10/MT following surge in Indian domestic offers.
Similarly present offers are being heard for blast furnace grade Billet at around USD 550/MT CFR Raxaul/Jogbani border, Nepal.
Participants reported limited buying from Nepal`s re-rollers as offers are quite high compared to large mills expectations.
Small parcels of Wire rod were heard to have sold at close at USD 595-600/MT ex-mill, Durgapur & equivalent to USD 620-625/MT CFR Raxaul/Jogbani border, Nepal. Meanwhile offers through the large mills for Wire rod produced from blast furnace grade Billets evaluated at USD 620-625/MT CFR.
Vizag Steel`s (RINL) export tender to Nepal for which due date was on 5th Sep`18 and the offered quantity was 10,836 MT for Wire rods and 2,709 MT for Billets, had received good response. The highest bid was reported for Billet (75*75mm, 90*90mm IS 2830) at USD 503-505/MT & for Wire rod (5.5-8mm, SAE 1008) around USD 593-595/MT. On CFR basis this will cost high by USD 30-40/MT, CFR Raxaul/Jogbani border, Nepal.
Statistics
Nepal`s Billet imports from India fall slightly by 5-6% on monthly premises. Nepal has imported about 126,041 Billet in Aug`18 as against 133,859 MT in Jul`18. In context to total imports, Nepal has imported about 786,283 MT Billet during Jan-Aug 2018, increase from the same preceding last year at 725,068 MT.
Sponge iron imports in Nepal stood at 9,811 MT in Aug`18, declined about 6.7% M-o-M as compared to 10,513 MT in Jul`18. Nepal`s Sponge imports in 2018 (Jan-Aug) from India recorded at 69,638 MT, declined by 5.8% as compared to 73,892 MT in 2017 (Jan-Aug).
Nepal`s Finish long steel (Rebar, Wire rod & Structure) imports from India continue to rally and recorded at 28,834 MT in Aug`18 as compared to 14,650 MT in Jul`18, increased by 96.8% M-o-M. Further on yearly comparison, the imports in 2018 (Jan-Aug) stood at 224,912 MT as against 191,998 MT in 2017 (Jan-Aug).
