Indian HRC Export Offers to Nepal Drop In Recent Booking
SteelMint in conversation with industry participants reported that Indian HRC export offers to Nepal reduced by USD 15/MT in recent deal concluded for June- July shipments.
As per market sources,an Indian steel mill based in eastern region booked around 4 to 5 rakes of HRC (thin gauge from 1.6-2.4mm) at USD 535/MT (ex-plant) which is coming around USD 555/MT CFR Raxual border for June- July shipments. The freight component is taken around USD 20-25/MT.
However a month back the same steel mill booked one rake of HRC to Nepal at around USD 550/MT FCA basis (USD 570/MT CFR Raxual border) for May shipments.
Thus few other Indian steel mills adopted wait and watch mode and are observing current market trend. Meanwhile they are planning to book HRC shortly for June-July shipments in Nepal market.
Indian steel mills lower HRC export offers to Vietnam - Indian steel mills have lowered HRC export offers to Vietnam for June shipments by USD 10-15/MT.
Market sources shared that currently HRC (SAE 1006) export offers to Vietnam is heard around USD 525/MT CFR basis for June shipments.
Last week Indian steel mills were offering HRC export offers to Vietnam at around USD 530-535/MT CFR basis. However lower bids from end users in Vietnam and competitive offers from other exporting nations in turn results to continuous decline in HRC export offers from India
Nepal flat steel imports in Jan-Mar’19- As per the data maintained with SteelMint Nepal flat steel imports stood at 0.13 MnT in Jan-Mar’19 in comparison with 0.16 MnT in same time frame of previous year.
Further more India at 0.10 MnT (80% of share),China at 0.01 MnT (11% of share) and Taiwan at 0.01 MnT (7%of share) remain the major flat steel exporters to Nepal in Jan-Mar’19.
source: SteelMint
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