According to sources close to SteelOrbis, ex-India billet offers to Nepal softened over the past week. Sources report offer levels at near $544-550/mt CFR around September 8. Since then, prices began to trend downward. The offer price for induction grade billet is reportedly at $530/mt CFR Nepal. Nepal mills are reportedly closing on ex-India billet deals this week.
India is Nepal’s most significant source for billet. According to customs data, Nepal imported 526,385 mt billet from India in H1 2018, up compared to 521,699 mt in H1 2017, although, lower than the 560,281 mt in H2 2017.