Indian Primary Mill Concludes Billet Export Deal to Nepal

An eastern India based large scale mill has concluded billet export deal to Nepal for four rakes (equivalent to 11,000 MT).

The price for the above deal was reported at near to USD 430-435/MT ex-mill. The landed cost to Nepal for the same would be around USD 445-450/MT CPT Raxaul/Jogbani border.

Further, buyers confirmed fresh purchases of billet produced by large scale (blast furnace grade) mills on account of competitive price range. As per them, premium is not as much high as compared to mid scale mills' billet and the landed cost of this to Nepal is at around USD 425-430/MT CPT Raxaul border.

Inline with this, wire rod export offers from large scale mills are heard to be at around USD 530-535/MT CPT Raxaul border. However, the deals are under negotiation, as per market sources. The last export deals by large scale mills were reported at around USD 520-530/MT CPT Nepal during 1st half of Jan'20.

Export offers from secondary mills fall -

Amid falling steel prices in Indian domestic market, export offers to Nepal dropped by USD 3-5/MT this week through the mid scale mills, which are making steel through the induction furnace route.

As per assessment, the latest export offers for billets by mid scale mills are hovering at USD 400-405/MT ex-mill at Durgapur, equivalent to USD 425-430/MT CPT Nepal.

Further, the wire rod export offers also dropped and are currently hovering at USD 450-455/MT ex-mill, Durgapur, which would be equivalent to around USD 475-480/MT CPT Nepal.