Major steel mills in Nepal have ramped their rolling capacities, hence imports of semis products (Billet & Sponge iron) have rallied. However finished steel imports narrowed down in same proportion in Nepal, as per data maintained by SteelMint stats.
Nepal’s total finished long steel imports during Jan-Jun (H1 CY19) fell by 7.7% to 167,332 MT as against 181,429 MT during same preceding last year i.e. Jan-Jun 2018. Similarly, the country’s flat steel imports dropped by 11.61% to 317,814 MT in Jan-Jun 2019 than the 359,568 MT in Jan-Jun 2018 (H1 CY18).
Meanwhile as the nation’s finished steel imports plunged, the total imports of Semis products (Billet & Sponge iron) grew by 8.8% to 626,343 MT Jan-Jun 2019 in comparison with 575,698 MT during Jan-Jun 2018.
On an average Nepal’s monthly Billet imports from India is close to 1 lakh ton, hence the country counts in the 1st position of total Billet exports from India. As per statistics, during 2018 (Jan-Dec) Nepal has imported about 1,1961,111 MT.
In current circumstances Nepal’s demand is weak for Indian billets due to onset monsoon which has resulted lessened steel production and fall in domestic finished steel prices in Nepal.
The latest export offers of Indian induction grade billet is hovering at USD 360/MT ex-mill, Durgapur. In line large mills (blast furnace grade) Billet export offers evaluated at around USD 420/MT ex-mill, eastern India.
Recently RINL’s (Vizag Steel) export tender to Nepal was cancelled which was floated on 13th Jul’19 due to low bids. However the company has again floated the same export tender to Nepal of 10,836 MT Billets, 8,127 MT Wire rod and 5,418 MT Bloom to Nepal on 30th Jul’19. The bid due date for the tender is 5th Aug’19, which will remain valid by 12th Aug’19.
Leave a Reply