In a recent conversation with Nepal based market participants, Indian steel mills concluded a couple of HRC export bookings to Nepal, SteelMint learned from market sources.
As per an update received govt.owned steel manufacturer has booked 4-5 rakes of HRC with Nepal at USD 450/MT CFR Raxaul border for Nov-end Dec shipments. Thus offers of HRC are around USD 430- 435/MT ex-plant basis. However, the company is planning to raise its offers by USD 10/MT from next week for Dec -Jan deliveries.
In line with this, another private steel manufacturer booked 2 rakes of HRC for exports at USD 453/MT CFR Raxual border for Nov-end Dec deliveries.
Further, an eastern region based steel manufacturer booked 1 rake of HRC ( 1.6 mm- 2mm, 900mm width, IS10748) for exports to Nepal at USD 450- 455/MT CFR Raxual border for Nov end Dec deliveries.
Meanwhile, Indian steel mills have raised HRC export offers by USD 10/MT at USD 440-445/MT CFR Vietnam over improved bids from Vietnamese buyers.
Nepal HRC/Plate imports in Jan-Oct’19- Nepal’s HRC/Plates import stood at 0.40 MnT in Jan-Oct’19 in comparison with 0.38 MnT in Jan-Oct’18. Major exporting nation’s include India at 0.37 MnT, followed by China at 0.03 MnT, and Taiwan at 0.01 MnT in Jan-Oct’19.
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