Nepal Steel Mill Books Indian Sponge Iron
Nepal based steel mills continue to actively book sponge iron from India.
Nepal's largest steel producer has recently booked two rakes of sponge iron from an eastern India based mill.
The deal price for the sponge iron (80 FeM, 100% lumps) is reported close to USD 240/MT loaded on to rake. This attracts freight of around USD 25/MT, CPT Raxaul border, Nepal.
Also its seen that demand for Indian billets from Nepal has also remained strong as frequent deals reported for Indian blast furnace & induction grade billets at around USD 395-400/MT CPT Raxaul border.
"With the end of festive season, trade activities have resumed fully in Nepal. Major Nepal based steel mills have turned active to book raw material in order to meet demand " cited trade sources.
Nepal is one of the largest buyer of Indian billets & Sponge.
As per data compiled by SteelMint, Nepal's monthly sponge iron imports from India is about 20,000-25,000 MT & about 1,00,000 MT billets.
source: SteelMint
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