SteelMint learned from market participants that Indian HRC (SAE-1006) export offers to Nepal have remained stable in recent deals concluded for May shipments.
As per update received, a private Indian steel mill booked 2-3 rakes of HRC at USD 570/MT CFR Raxual border for May shipments.
On similar lines, another Indian steel mill based in eastern part of India booked only one rake of HRC to Nepal at around USD 550/MT FCA basis (USD 570/MT CFR Raxual border) for May shipments.
Market sources based in Nepal shared that slow demand and higher inventory levels have limited fresh HRC bookings from India.
Prior to this, in mid March’19 major Indian steel mills booked around 4 rakes of HRC at around USD 550/MT FCA (USD 570/MT CFR Raxual border) basis for end April shipments.
Leave a Reply