Indian Mill Concludes HRC Export Deal to Nepal

Indian HRC export prices to Nepal have increased significantly by USD 25/MT this week against the previous booking made a couple of weeks back. A govt. owned company has recently booked around 2-3 rakes of HRC for exports at USD 415/MT (explant) which translates to USD 430-435/MT CFR Raxual border, for end July shipments, SteelMint learned from Nepal based market sources.

A couple of weeks back, the company had booked around 15,000 MT HRC for Nepal at USD 385/MT ex-plant (equivalent to USD 405/MT CFR Raxual Border).

The sources also informed that the Nepalese government have extended the lockdown until 2nd Jun'20.

Following increases in Chinese HRC export offers, Indian steel mills too have raised their offers by USD 10 on strong demand from major importing nations. Thus currently Indian HRC export offers to Vietnam are hovering at USD 430-435/MT CFR basis for July deliveries.

Nepal HRC/ Plate imports- Nepal's aggregated import volume of HRC/plate for (Jan-Apr) CY'20 stood at 0.13 MnT. India stood as the leading exporter to Nepal, followed by China during the period.