In conversation with market participants based in India, SteelMint learnt that Indian steel mills have significantly reduced HRC export offers to Nepal for Nov deliveries.
Major Indian private steel based in eastern India is offering HRC for export at USD 430-435/MT (ex-plant) basis to Nepal. Also govt owned steel manufacturer is offering HRC exports to Nepal at USD 440/MT (ex-plant) basis for Nov’19.
However no major deals have been concluded yet over dull sentiments prevailing in Nepal market. Indian HRC export offers to Nepal have come down by USD 30-35/MT in last two months.
Meanwhile Indian steel mills have hold their offers for Vietnam and last offers was heard around USD 430/MT CFR basis for Nov shipments.However Vietnam importers are eyeing for imported HRC offers from India around USD 415-418/MT CFR basis.
Nepal Flat steel imports in Jan- Sep ’19 – Nepal imported a total of 0.50 MnT of HRC during Jan-Sept’19. As per data maintained with SteelMint, Nepal imported 0.33 MnT of HRC/Plates in Jan-Sep’ 19 from India. However Nepal imported 0.03 MnT from China and 0.01 MnT from Taiwan.
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