Indian HRC Export Prices to Nepal Decline Sharply in Recent Deals

Trade sources mentioned that an Indian govt. owned steel mill has booked 15,000 MT of HRC (2mm, IS 10748) for export to Nepal at around USD 585/MT (ex-factory). The CFR Raxaul border price would be higher by USD 20-25/MT which will come around USD 605-610/MT CFR basis.The material delivery is scheduled in end of August or early September.

In beginning of July, it had booked few rakes of HRC (2mm, IS 10748) export to Nepal at around USD 615/MT (ex-factory). Thus on monthly basis, prices have come down sharply.

Indian mills are shifting their interest towards HRC exports owing to sluggish demand and weak trades in domestic market.Indian exporters are also actively exporting HRC to Vietnam for September shipments.

India flat steel exports to Nepal higher by 43% in H1CY18- According to customs data maintained with SteelMint,India exported 0.33 MnT of flat steel in H1CY18 higher by 43% as compared to 0.23 MnT in similar time frame of previous year.

However on monthly basis Nepal flat steel imports from India stood at 0.06 MnT in Jun’18 up by 20% against 0.05 MnT in May’18.

Meanwhile China and Taiwan also exported flat steel to Nepal in small quantities.