Nepal Billet Import Drops 24%; Sponge up 85% in Oct, M-o-M
Nepal’s billet imports fell by 24% M-o-M to 53,122 MT in Oct’19 against 70,390 MT in Sept’19. Entire import volumes were recorded from India.
Reason behind drop in billet imports was due to the festive mood, which resulted in drop in local finished steel production on account of weak demand in local market.
Indian induction grade billet export offers to Nepal fell from USD 405/MT in beginning of Sept’19 to USD 380-385/MT towards end of Sept’19. Prices mentioned are on landed Raxaul border basis.
The country's Sponge iron imports rose considerably by 85% on account of healthy bookings by the major mills in Sep'19, for which dispatches were scheduled for Oct'19.
Overall Nepal’s semi finished steel imports observed a drop by 43% on Y-o-Y basis in Oct’19.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Mercuria partners with Zambia on metals trading venture
Iron ore price weakens as Australia flags return to sub-$100 prices
Arcadium Lithium investors sue miner over Rio Tinto takeover
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Triple Flag to acquire royalty on Tres Quebradas lithium project
Aluminum price falls to one-month low in wider commodity slump
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security
Midnight Sun receives exploration license renewal for Solwezi copper project in Zambia
Lithium Americas and GM close joint venture for Thacker Pass mine
Gold price slips as traders weigh outlook for Fed interest rate cuts
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security
Midnight Sun receives exploration license renewal for Solwezi copper project in Zambia
Lithium Americas and GM close joint venture for Thacker Pass mine