Nepal's Billet Imports from India Slump 10% in November Amid Demand Slowdown

Nepal, the major buyer of Indian Billet & Wire rod registered sharp fall in its monthly imports in Billet by 10% & Wire rod by 62% in Nov'18.

As per custom data, Nepal has imported about 93,441 MT Billets in Nov'18, fall by 9.89% as compared to 103,700 MT in Oct'18. The imports have been slump due to poor off take in finished steel products & sufficient stock of Billet with the mills, SteelMint learned with import sources.

Similarly, Wire rod imports being sharply fall by 62.2% M-o-M and recorded at 11,495 MT in Nov'18 which was about 30,443 MT in Oct'18. The total imports during Jan-Nov'18 of Indian origin Wire rod in Nepal reported at 225,272 MT, increased by 6.9% than the 210,658 MT in Jan-Nov'17.

Meanwhile the country's Flat steel imports surge by 3.6% to 59,009 MT in Nov'18 as compared with 56,944 MT in Oct'18. During Jan-Nov'18 the imports sharply gain by 42.6% and stood at 646,583 MT as against 453,244 MT in Jan-Nov'17.

Nepal doesn't have major billet making facility, however few mills have their in house Ingot/Billet productions, hence the nation's sponge iron imports being active and gain slightly in Nov'18 and marked at 11,117 MT as against 7,140 MT in Oct'18, moved up by 55.7% M-o-M. However during Jan-Nov'18, the total imports declined by 11.7% and observed at 94,211 MT as compared to 106,777 MT in Jan-Nov'17.