Nepal's Long Steel Prices Soar by NPR 2,000/MT (USD 19)
...
Nepal long steel - Rebar prices rose by NPR 2,000/MT (INR 1,250/MT or USD 19) on 12th April after being stable from the beginning of Mar'18, SteelMint learnt from the sources.
The prices spurred amid rising Indian steel prices & active demand and it is seen that steel prices in Nepal is affected by any changes in the Indian market and also it largely imports from India.
The effective prices for commercial grade rebars are at around NPR (Nepalese Rupee) 76,000/MT (INR 47,400/MT or USD 727/MT) by small mills and for the large mills - Prime brands the prices are hovering at NPR 78,000-80,000/MT (INR 48,700-49,900/MT or USD 746-765). The prices are ex-works, size 10-20mm and excluding VAT at 13%.
The local rolling-mills in Biratnagar & Birgunj Nepal claimed that, billet export prices by Indian steel makers - eastern part increased sharply by about USD 15-20/MT in a week and are currently evaluated at USD 535-540/MT ex-mill, Durgapur & USD 530/MT ex-mill, Rourkela for size- 100*100mm and induction grade following which the rebars prices also increased in Nepal.
SteelMint also reported yesterday that Nepal mills had booked Indian billets in recent at higher price of USD 530-533/MT against the last week at close to USD 520/MT, ex-mill, Durgapur.
Wire rod export offers also increased for Nepal by Durgapur based steel mills and the latest price for 5.5 mm, commercial grade heard at around USD 615/MT against SteelMint's last assessment of USD 605-610/MT (ex-mill), Durgapur.
Nepal has about 20-25 rolling mills which produces more than 2.0 MnT per annum of finished steel. The mills procure raw materials - Billets from India and finished products from both India & China through Indian ports.
Indian domestic steel prices moves up
Indian steel prices continue to surge this week by INR 1,500-2,000/MT (USD 23-31) and in a month by INR 2,000-2,500/MT (USD 31-39).
The manufacturers in the local market are offering billet - at INR 35,000-35,200/MT (USD 538-542), Rebars 12mm at INR 39,500-39,800/MT (USD 608-613) & Wire rod 5.5mm at INR 39,700-39,900/MT (USD 611-614).
