On May 1, SteelOrbis reported that ex-India induction grade billet offers to Nepal were approximately at $475-480/mt CFR Nepal.
Sources inform SteelOrbis that billet offers improved slightly in the second half of May but began a downward decline through June. Prices are now reportedly at $420-425/mt CFR Nepal, a price erosion of $55/mt in the past two months. The decrease in prices is a result of highly competitive import billet alternatives from various global sources and limited demand in Nepal as buyers are exercising caution.