In conversation with market participants, SteelMint learned that a major Indian steel mill has recently booked HRC to Nepal for Aug-Sep shipment.
As per an update received,a private Indian steel mill booked around 2 rakes of HRC (SAE-1006 1.6-2 mm and lower width) at USD 530/MT CFR Raxual border for Aug-Sep shipments.
Thus with the beginning of new fiscal year,trade sentiments have started to pick up and HRC importers are looking ahead for fresh bookings to Nepal for Aug-Sep shipments.
Meanwhile Indian steel mills have shifted their interest towards export sales in the back of low buying and weakening steel prices in domestic market.Currently Indian steel mills are offering imported HRC offers to Vietnam around USD 512-515/MT CFR basis.
Indian HRC/Plates imports to Nepal in H1 CY’19- As per data maintained with SteelMint,Nepal imported 0.22 MnT of HRC/Plates in H1CY19.Out of which Nepal imported 0.19 MnT from India during first half (Jan-Jun) of CY’19.Thus it occupied the share of around 83% in total imports.
Meanwhile Nepal also imported HRC/Plates from China at 0.03 MnT accounting for 11% of share in Jan-Jun CY’19.
Leave a Reply