Indian Mill Concludes HRC Export Deal to Nepal

Indian HRC export market to Nepal continues to remain active in recent trades. An eastern India based steelmaker concluded HRC export deal to Nepal for March shipments.

As per the information received, an eastern India based major private steel manufacturer, booked three rakes of HRC (IS 10748, 1.6mm and above) at USD 520-525/MT (ex-plant) basis, which is equivalent to USD 540-545/MT CFR Raxual border.

Meanwhile, at the beginning of this week govt owned a major steelmaker booked 2 rakes of HRC (1.6mm and above) at a similar price level for March shipments.

Before this, at the beginning of Jan'20, two major Indian mills had booked around 5,000 MT HRC (1.6 mm and above) each at USD 530-535/MT CFR Nepal for Feb'20 shipment.

However, with the increase in domestic steel prices, Indian steel manufacturers are eyeing to increase HRC export offers to USD 550/MT CFR basis for April shipments.

Nepal HRC/Plate imports in CY19- As per the data maintained with SteelMint, Nepal's aggregated HRC/Plates imports stood at 0.48 MnT in CY' 19 in comparison with 0.46 MnT in CY '18. The major exporting nations to Nepal included- India at 0.44 MnT, followed by China at 0.03 MnT, and Taiwan at 0.01 MnT in Jan-Dec '19.