Nepal the major buyer of Indian Billets recorded all time high in its monthly billet imports, as per custom data.
Nepal has imported about 133,900 MT Billets from India during the month of Jul’18, which is all time high since data available with SteelMint from Jan’16 and also rose about 36% M-o-M as against 98,500 MT in Jun’18.
Rising steel capacities in the nation is a key factor behind surge in raw material imports. Nepal has current rolling capacities of about 1.6-1.8 MnT which is expected to be cross 2 MnT by end of 2018. Also it is expected the demand to grow annually 10%, as per industry experts.
Nepal’s Sponge iron imports during Jul’18 recorded at 10,500 MT which was about 500 MT in Jun’18.
Finished Steel
Monsoon tend to badly affect overall finished steel movement either within the country or for outside and it has reduced the imports of finished steel in Nepal from India.
As per data, Long steel (Rebar, Structure & Wire rod) imports in Nepal down by 49% M-o-M to 14,650 MT in Jul’18.
In line with Flat Steel (HRC, CRC, Galvanised & Electrical Sheet) imports slumped about 3% to 73,155 MT in Jul’18 as compared to 75,391 MT in Jun’18.
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