Nepal Based Rolling Mills Book Billet from Durgapur

Nepal - a major buyer of Indian Billets has booked good quantities yesterday, as per trade participants. Nearly 4,000-5,000 MT Induction grade Billet have been booked in a trade concluded yesterday, as per sources involved in the deals.

The deal price for the Billets 100*100 mm, induction route reported at around USD 460-463/MT ex-mill at Durgapur (East India), equivalent to USD 485-490/MT CFR Raxaual/Jogbani Border, Nepal.

Also fresh deals for exports of Wire Rod reported close to USD 540-545/MT ex-mill, Durgapur for commercial grade & size 5.5 mm.

The industry participants are in hope for further rise in export demand for Billets & Wire rod post festive off as their are assumptions that rolling mills in Nepal to raise their productions following pick season for construction activities.

Thus this indicates rise is exports for Billet & Wire rod as Nepal's imports is only from India due to less voyage time & easy payment method through LC.

Nepal has rolling facilities close to 1.5-1.7 million tones per annum. On an average, India's monthly Billet exports to Nepal is about 100,000 MT and completely from eastern region (West Bengal, Odisha & Jharkhand).

As per custom data maintained with SteelMint, in Sep'18 (15th Aug to 14th Sep) Nepal's billet import from India stood at 99,986 MT & Wire rod about 13,339 MT.