Indian Steel Mill Concludes 15,000 MT HRC Export Deal to Nepal

Indian HRC export deals to Nepal have resumed with easing of lock-down. SteelMint learned from its credible sources based in Nepal, that govt owned Indian steelmaker has recently concluded an export deal of around 15,000 MT of HRC to Nepal for June deliveries. The deal price stood around USD 385/MT (ex-plant basis) which is equivalent to USD 405/MT CFR Raxual border.

Also at the beginning of the week, an Indian steel manufacturer has booked a small parcel of HRC for exports at USD 400/MT CFR Vietnam.

The Indian steel mills have raised HRC export by USD 5-10/MT owing to increased buying of HRC among Vietnam, China, and Nepal. Decent bookings have been made to China and Vietnam at previous offers for June deliveries.

However, partial resumption of activities in India as the lockdown eases with few activities happening in green and orange zones, Indian mills are continuing to explore export opportunities as COVID 19 hits domestic demand.

Nepal HRC/plate imports- Nation imported 0.13 MnT of HRC/plate from India Jan- Apr'20. India remained major HRC exporter to Nepal followed by China in the first four months of CY'20.