On January 22, SteelOrbis reported that ex-India induction grade billet offers to Nepal were approximately at $458-463/mt CFR Nepal.
Since then offer prices peaked at $498-503/mt on February 14, as SteelOrbis has been recently informed, but with the advent of lower scrap buying prices recently, DRI offers to Nepal also decreased and are now reportedly at $488-492/mt CFR Nepal. Compared to the recent peak, prices decreased $10/mt from the bottom of the previous range and $11/mt from the top of the same range. Sources note the influence of softening global scrap prices as well as declining domestic prices on the downward pressure on import DRI offers.
Compared to a month ago, prices firmed up $30/mt from the bottom of the previous range and $29/mt from the top of the same range.