Indian HRC export trades to Nepal have remained limited. Market sources in conversation with SteelMint shared that with Nepal’s financial year (16 July-15 July) closure approaching, buyers have turned less active in making bookings.
Also consistent rains and monsoons have limited trade activities in Nepal and slow downstream demand.
Trade sources mentioned that an Indian govt. owned steel maker had booked few rakes of HRC (2mm, IS 10748) export to Nepal at around USD 615/MT (ex-factory). The CFR Raxaul border price would be higher by USD 20-25/MT. The material delivery is scheduled in end of July or early August.
Prior to this a private steel making company had concluded deal for same material at USD 640/MT (ex-factory).
Trade sources believe, market to remain dull in next 7-10 days owing quoted reasons and after getting a clear picture on Indian HRC offers to SE Asian nations, mills may open fresh prices for Nepal market too.
Nepal’s flat steel imports up 29% M-o-M in June- According to customs data maintained with SteelMint, Nepal imported 75,391 flat steel in Jun’18 compared to 58,261 MT in May’18. Importes from India increased from 52,046 MT in May’18 to 61,929 MT in Jun’18.
In H1 CY18, Nepal imported 359,568 MT flat steel in total, out of which 91% share was from India followed by China and Taiwan. Out of total flat steel imports by Nepal in H1 CY18, share of HRC was 67%.
Nepal imports around 0.35-0.37 MnT HRC/plates annually. Thus on monthly average basis it imports nearly 30,000-35,000 MT.
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