Market participants shared with SteelMint that Indian HRC export prices significantly for Nepal in recent bookings concluded for end March or early April shipments.
As per an update received, a major private steel maker based in southern India booked around 3 rakes of HRC rerolling grade ( SPHT-2 1.60 mm and above) at around USD 570/MT CFR basis for end march shipments.
In another deal, a major private steelmaker based in eastern India has booked around 1 rake of HRC at around USD 550/MT FCA basis which is assessed around USD 570-575/MT CFR Raxaul border for April shipments.
Previously in Feb’19, the same steelmaker booked around 3 rakes of HRC with thickness ranging from (2.0 mm and above) was at USD 505-510/MT FCA which is coming around USD 530-535/MT CFR Raxaul border. Freight is around USD 20-25/MT for Feb end or early march shipment.
In last couple of months,Nepal steel market showed slowdown in buying activities amid liquidity issue and increased power tariff.Meanwhile traders based in Nepal were holding enough inventory which pushed down sales in Nepal market.
Nepal flat steel imports in CY18 – According to customs data maintained with SteelMint, Nepal imported 0.69 MnT of flat steel in CY18 as compared to 0.50 MnT of flat steel in previous year.Out of this nation has imported 0.46 MnT of HRC in CY18.
Major flat steel exporters to Nepal were India at 0.58 MnT and accounted for 87% of share and China at 0.05 MnT occupying share of 7.4% followed by Ukraine and Taiwan.
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