Indian HRC Export Prices to Nepal Up in Recent Deal
In line with SteelMint previous report on Indian steel mills planning to raise HRC export offers by USD 10-20/MT. A major private steelmaker based in eastern India has concluded HRC export deal of around 1 rake for Feb end or early march shipment. In another deal concluded recently by a mill, the deal price for 2 rakes of HRC export to Nepal was assessed around similar levels.
Trade sources heard that the deal concluded for HRC with thickness ranging from 2.0 mm and above was at USD 505-510/MT FCA which is coming around USD 530-535/MT CFR Raxaul border. Freight is around USD 20-25/MT.
Towards the end of January’19 the same mill had concluded HRC (1.6-12mm) export deal for about 3 rakes at USD 490/MT FCA which was at USD 510-515/MT CFR Raxaul border for January end or early February shipments.
Meanwhile Indian steel mills are eyeing for further hike in price levels for HRC exports to Nepal and are waiting before making fresh bookings.
Nepal flat steel imports in CY18 - According to customs data maintained with SteelMint, Nepal imported 0.69 MnT of flat steel in CY18 as compared to 0.50 MnT of flat steel in previous year.Out of this nation has imported 0.46 MnT of HRC in CY18.
Major flat steel exporters to Nepal were India at 0.58 MnT and accounted for 87% of share and China at 0.05 MnT occupying share of 7.4% followed by Ukraine and Taiwan.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
