India's BF-route billets export offers for Nepal rise

Indian export offers of blast furnace-route billets to Nepal increased by $20/tonne (t) w-o-w on active demand and a constant rise in IF-route billets offer by mid sized plants.

About four-five rakes of BF-route billets deals were reported to Nepal this week. The average price of BF-billets was heard at $630/t, while fresh offers increased to $650/t CPT Nepal.

Also, offers of IF-route billets rose sharply to around $620/t exw-Durgapur, equivalent to $645/t CPT Nepal, as against $600-605/t CPT Nepal last week.

Wire rod offers climb

Following a rise in billets offers, export offers of wire rod also moved up sharply by upto $30/t, w-o-w.

• Offers of BF-wire rod (SAE 1008) stood at $695-700/t compared to around $675-680/t CPT Nepal last week.
  
  
• Wire rod offers from mid-sized mills were reported at $670/t exw-Durgapur, equivalent to $695/t CPT Nepal, higher by $30/t, w-o-w.
  
  

Sponge iron export offers rally

Indian sponge iron (iron ore-based DRI, 70% lumps and 30% fines, FeM 80%) export offers increased this week by $20-25/t to around $470-475/t (loaded on to rake), equivalent to $495/t CPT Nepal.

A couple of rakes sponge iron was reportedly sold this week at around $460-465/t (loaded on to rake), equivalent to $485-490/t CPT Nepal.

Nepal's domestic rebar prices rise on higher input costs

With a constant increase in import prices of raw materials from India, Nepal mills have raised their rebar offers despite moderate domestic demand during the closing of (Nepal's) half financial year (H1FY'22).

• Rebar offers marked an increase of NPR 3,000-4,000/t ($25-34/t) w-o-w. Fresh offers from standalone mid-sized rolling mills for 10-20 mm stand at around NPR 87,000/t ($734/t), while offers from premium brands are at NPR 88,000/t ($743/t). Prices are on an ex-works basis, excluding VAT.