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
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
