A couple of Indian steel mills have booked four rakes of re-rolling grade HRC for exports to Nepal for end-May dispatches, in the last 7-10 days. Two rakes were booked at $995/t CFR Raxual border ($975/t ex-plant), while the other two at $1,010/t CFR ($990/t ex-plant). Banks in Nepal have announced 100% of the deal value to be collected for opening up of Line of Credit (LC) for which reason Indian mills are not pushing for higher exports.
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