Indian Billet Export Offers to Nepal Fall on Declining Domestic Prices

The latest export offers to Nepal for induction grade Billet marked further drop and in a week duration it slump close to USD 20/MT following decline in domestic prices by around INR 1,500/MT (USD 23), W-o-W.

As per assessment, currently the export offers for 100*100 mm Billet through the medium mills hovering at USD 450-455/MT ex-works at Durgapur, fall from a week ago at USD 470-475/MT. Freight cost to Nepal border reported at around USD 30/MT CNF Raxaul or Jogbani border.

Sources mentioned that, small parcels of Billet exports concluded last day through the Durgapur based mills at approximately USD 455-457/MT ex-works, which is equivalent to USD 485/MT CNF Nepal.

Further the Wire rod export offers being drop by USD 20-25/MT in a week and latest quotation heard at around USD 525/MT ex-mill, Durgapur, equivalent to USD 555/MT CNF Raxaul/Jogbani border (Nepal).

As per mills in Nepal (Bhairava), "amidst hope of further drop in export prices, limited bookings have made since last few days".

Indian Exports to Nepal Surge

As per recent released custom data, Indian Billet exports to Nepal slightly rise on yearly basis and stood at around 1,182,432 MT in CY18 (Jan-Dec) as against 1,060,906 MT in CY17.

India's Wire rod exports to Nepal being surge sharply by about 40% Y-o-Y and marked at around 247,010 MT in CY18.

However in comparison with overall exports, India's Billet exports plunge close to 13% in CY18 and recorded at 2,404,796 MT than the 2,778,459 MT during CY17.

Meanwhile the total Wire rod exports climb by 21% and recorded at 282,162 MT in CY18 as against 232,873 during CY17.