Indian Mill Concludes HRC Export Deal to Nepal

A major private steel manufacturer based in eastern India has concluded HRC export deal for about 3 rakes for February shipment. The deal concluded is for various grades of HRC with thickness ranging from 1.6 mm -12 mm. As per sources, the deal price for 1.8 mm HRC is at USD 490/MT FCA which is coming around USD 510-515/MT CFR Raxaul border. Freight is around USD 20/MT.

In beginning of Jan'19, JSW Steel had concluded HRC export deal for about 3 rakes at USD 525/MT CFR Raxaul border for January end or early February shipments.

Indian steel mills prefer HRC exports amid weak buying in domestic market- Amid sluggish trades and weak buying in domestic market compelled Indian steelmakers to explore export options. Meanwhile Indian mills are also actively exporting HRC to Vietnam and Bangladesh and have concluded deals last week.

Nepal flat steel imports in CY18 - According to customs data maintained with SteelMint, Nepal imported 0.69 MnT of flat steel in CY18 as compared to 0.50 MnT of flat steel in previous year.Out of this nation has imported 0.46 MnT of HRC in CY18.

Major flat steel exporters to Nepal were India at 0.58 MnT and accounted for 87% of share and China at 0.05 MnT occupying share of 7.4% followed by Ukraine and Taiwan.