Indian Mills Conclude HRC Export Deals to Nepal

Nepal's HRC import market has resumed momentum with recent deals being concluded from India.

As per updates received by SteelMint, two major Indian mills have booked around 5,000 MT HRC (1.6 mm and above) each at USD 515-520/MT (ex-plant), which is equivalent to USD 530-535/MT CFR Nepal for Feb-end-Mar'20 shipment. The deals were heard to have concluded towards the end of last week. Fresh offers from Indian steel mills were heard at USD 540/MT, CFR Nepal levels.

Major Indian steel manufacturers have raised HRC export offers to Nepal and Vietnam owing to tight supply in the domestic market and fewer allocations for exports. Also, the hike in domestic steel prices compelled Indian steel mills to raise HRC export offers to the overseas markets. Meanwhile, Indian HRC export offers to Vietnam are also heard in a similar range, but no major bookings have been concluded yet.

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