Nepal’s billet imports from India stagnant at 98,000 t in mid-May’21

One of India’s main steel export destinations and a major market for IF grade billet, Nepal imported over 98,000 t of billets from India between 16 Apr’21 and 15 May’21, just about 0.5% higher on imports recorded between mid-Mar’21 and 15 Apr’21, SteelMint data shows. However, Nepal’s sponge iron imports slumped by 48.8% during the period to 12,477 t. The country’s wire rod imports too plunged, while HRC and plate imports rose by 4.2% to 19,577 t. Nepal’s import volumes are expected to drop in the near term due to the ongoing lockdown and onset of monsoon.