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.