Indian secondary mills conclude steel export deals for Nepal

Indian secondary mills continue to remain active in booking export orders for Nepal. They have bagged export orders from the Nepal based mills due to limited allocation with primary mills, SteelMint learned in conversation with officials.

Officials from the eastern & southern India based primary mills reported no fresh export offers for Nepal due to healthy orders in hand for the domestic amid better realization in domestic trades.

The last deal for billet through the primary mills were reported at around $445-450/t (CFR Nepal) landed Raxaul border, during September, while earlier wire rod deals were concluded at around $500/t, CFR Nepal. However, no fresh export offers were reported by mills so far in this month

On the other hand, the secondary mills based in Durgapur (eastern India) are receiving good buying inquiries and the fresh deals for billet are assessed at $425-430/t & for wire rod at $475-480/t, CFR Nepal, via road delivery.

Outlook - Indian suppliers are assuming demand to slow down for Nepal exports from the third week of Oct'20 due to Dussehra celebration. It being a key festival for the nation, most of the plants hold operations during this tenure.