Indian flat steel makers have remained less active in booking HRC export orders to Nepal this week amid logistics concerns over rake availability issues.
Market participants in conversation with SteelMint mentioned that a major private Indian steel mill is heard to have booked nearly two rakes of HRC (2 mm) to Nepal in the beginning of this month at USD 685/MT, landed Raxaul border.
“Few mills have their deliveries pending for material booked in previous month. Also there are not much inquiries coming in. Rainy season is another matter of concern”, shared a Nepal based market participant.
Nepal imports around 0.35-0.37 MnT HRC/plates annually. Thus on monthly average basis it imports nearly 30,000-35,000 MT.
So far in CY18 (till Apr’18) India has exported 0.21 MnT flat steel to Nepal and remained largest exporter followed by China at 0.01 MnT. In CY17, India accounted for 91% share in Nepal flat steel imports. Other major exporting countries were China (6% share) and South Korea (2% share).
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