Following the hike in export offers for Vietnam, Indian mills have raised HRC export offers for Nepal too. Current offers have moved up sharply by around USD 25/MT this week, SteelMint learnt from its credible market sources in Nepal.
Fresh offers stand at USD 415/MT ex-plant basis which translates to USD 430/MT landed Raxaul border for early Jul’20 deliveries. Meanwhile, deals are under negotiation and will be concluded shortly.
Last week, an Indian mill concluded an export deal of around 15,000 MT HRC at USD 385/MT ex-plant which is equivalent to USD 405/MT CFR Raxual border.
Meanwhile, the increased preference for Indian HRC by the major importing nations has propelled mills to raise their export offers for July shipments. Thus, a few deals reported to Vietnam at increased offers for July shipments.
Also, strong Chinese futures can be attributed to the uptrend in HRC export offers from major exporting nations.
Nepal HRC/ Plate imports- Nepal’s HRC/plate import for Jan-Apr’20 summed up to 0.13 MnT. India stood as the leading exporter to Nepal, followed by China during the period.
Leave a Reply