Nepal, the major buyer of Indian Billets has registered slight fall in its monthly billet imports by 15% in May 2018.
As per custom data managed by SteelMint stats, Nepal imported about 87,256 MT Billets in May’18 (15th Apr to 14th May) as against 102,529 MT in Apr’18 (15th Mar to 14th Apr); fall by 14.94% M-o-M.
It seems that sharp surge in Indian billet export prices amid logistic issue has negatively affected the Nepal’s import figures. On an average Indian Induction route billet export offers to Nepal during Apr’18 (till 15th) were assessed at USD 490-520/MT which soar by USD 30-35/MT in May’18 (till 15th) and stood at USD 525-550/MT; ex-mill – East India.
In context to Sponge iron (DRI), Nepal’s sponge imports from India recorded at 10,921 MT in May’18 (15th Apr to 14th May), rose by 48% M-o-M as compared to 7,374 MT in Apr’18 (15th Mar to 14th Apr).
As per analysis, during the summer season (Mar-May) Indian sponge iron prices were slightly fluctuates in line with seasonal low consumption by EA & induction furnaces over uncertain power cuts; resulting growth in export figures.
Finished Long steel imports 6 month’s high
The nation’s finished steel imports from India continue to surge and stood at 6 month’s high in May 2018.
As per data, Nepal has imported about 34,385 MT Finished long steel in May’18 (15th Apr to 14th May) which is higher from last 6 month’s and prior to this the highest imports recorded in Oct’17 at 46,300 MT. The imports figures are including Wire rod, Structures & Rebars.
Meanwhile, On monthly premises import figures up by 21% in May’18 as compared to 28,408 MT in Apr’18 (15th Mar to 14th Apr).
Flat Steel Imports Fall
Nepal’s flat steel imports from India declined by 10% M-o-M and registered at 58,261 MT in May 2018 (15th Apr to 14th May) which was in Apr 2018 (15th Mar to 14th Apr) recorded at 64,509 MT.
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