Nepal, the India’s top semi-finished steel importer has registered decline in its billet imports by 9% ( 6,722 MT) M-o-M in Jan 2018, according to custom’s data compiled by SteelMint.
Sharp surge in Indian steel prices by INR 4000-5000/MT in the month of Dec 2017 has resulted to decline in Nepal’s billet import volumes since the re-rollers have kept themselves away from taking positions amid higher domestic prices in India.
As per the latest customs data, Nepal has imported about 70,695 MT billets in a month during 15th Dec’17 to 14th Jan’18 (Nepalese calendar year) which declined sharply as compared to previous month (15th Nov – 14th Dec 2017) imports at 77,417 MT. On Y-o-Y basis, Billet imports fall by 4.62% in Jan’18 (during 15th Dec’17 to 14th Jan’18) as compared to same preceding last year at 74,123 MT.
Sponge iron imports also declined sharply in Nepal by 40% M-o-M. The sponge iron imports from India are reported at 3,106 MT during 15th Dec’17 to 14th Jan’18 (Nepalese calendar year) which declined from a month earlier at 5,177 MT (15th Nov – 14th Dec 2017).
Latest Trade Updates
— The medium mills in Durgapur are offering billet exports to Nepal at USD 505-510/MT ex-mill, while export offers from Rourkela, Odisha based manufacturers are reported at USD 490-495/MT on ex-mill basis.
— Recently, Vizag Steel had concluded billet (90*90mm) export tender to Nepal at USD 510/MT & the buyer’s for this tender was Panchkanya Rolling mills and Kamala Steel Rolling mills Pvt Ltd based in Biratnagar, Nepal.
— Nepal has imported about 31,799 MT long steel & 43,607 MT Flat steel in a month (during 15th Dec’17 to 14th Jan 2018) in which India’s contribution is about 90-93% & China only by 5-10%.
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