www.steelmint.com
Open in
urlscan Pro
2a06:98c1:3120::3
Public Scan
Submitted URL: https://bit.ly/3SnkKBN
Effective URL: https://www.steelmint.com/insights/nepals-steel-melting-capacities-cross-2-mnt-in-2022-414156
Submission: On February 23 via api from RU — Scanned from DE
Effective URL: https://www.steelmint.com/insights/nepals-steel-melting-capacities-cross-2-mnt-in-2022-414156
Submission: On February 23 via api from RU — Scanned from DE
Form analysis 1 forms found in the DOM
<form onsubmit="return false;">
<div class="firebaseui-card-header">
<h1 class="firebaseui-title">Enter your phone number</h1>
</div>
<div class="firebaseui-card-content">
<div class="firebaseui-relative-wrapper">
<div class="firebaseui-phone-number"><button class="firebaseui-id-country-selector firebaseui-country-selector mdl-button mdl-js-button" data-upgraded=",MaterialButton"><span
class="firebaseui-flag firebaseui-country-selector-flag firebaseui-id-country-selector-flag firebaseui-flag-US"></span><span class="firebaseui-id-country-selector-code">+1</span></button>
<div class="mdl-textfield mdl-js-textfield mdl-textfield--floating-label firebaseui-textfield firebaseui-phone-input-wrapper is-upgraded" data-upgraded=",MaterialTextfield"><label class="mdl-textfield__label firebaseui-label"
for="phoneNumber">Phone number</label><input type="tel" name="phoneNumber" class="mdl-textfield__input firebaseui-input firebaseui-id-phone-number" value=""></div>
</div>
<div class="firebaseui-error-wrapper">
<p class="firebaseui-error firebaseui-text-input-error firebaseui-hidden firebaseui-phone-number-error firebaseui-id-phone-number-error"></p>
</div>
<div class="firebaseui-recaptcha-wrapper">
<div class="firebaseui-recaptcha-container">
<div>
<div style="width: 304px; height: 78px;">
<div><iframe title="reCAPTCHA"
src="https://www.google.com/recaptcha/api2/anchor?ar=1&k=6LcMZR0UAAAAALgPMcgHwga7gY5p8QMg1Hj-bmUv&co=aHR0cHM6Ly93d3cuc3RlZWxtaW50LmNvbTo0NDM.&hl=de&v=Nh10qRQB5k2ucc5SCBLAQ4nA&size=normal&cb=e12ohye1ng1"
width="304" height="78" role="presentation" name="a-dt1pk1gktu6q" frameborder="0" scrolling="no"
sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox"></iframe></div><textarea id="g-recaptcha-response-1" name="g-recaptcha-response"
class="g-recaptcha-response" style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea>
</div>
</div>
</div>
<div class="firebaseui-error-wrapper firebaseui-recaptcha-error-wrapper">
<p class="firebaseui-error firebaseui-hidden firebaseui-id-recaptcha-error"></p>
</div>
</div>
</div>
</div>
<div class="firebaseui-card-actions">
<div class="firebaseui-form-actions"><button type="submit" class="firebaseui-id-submit firebaseui-button mdl-button mdl-js-button mdl-button--raised mdl-button--colored" data-upgraded=",MaterialButton">Verify</button></div>
</div>
<div class="firebaseui-card-footer">
<p class="firebaseui-tos firebaseui-phone-tos">By tapping Verify, you are indicating that you accept our <a href="javascript:void(0)" class="firebaseui-link firebaseui-tos-link" target="_blank">Terms of Service</a> and
<a href="javascript:void(0)" class="firebaseui-link firebaseui-pp-link" target="_blank">Privacy Policy</a>. An SMS may be sent. Message & data rates may apply.</p>
</div>
</form>Text Content
* Login
* Demo
* Buy Now
*
Close
* My Portfolio
* Prices
* Ferrous Price
* Non Ferrous Price
* Insights
* Commodities
* Region
* Tenders
* Statistics
* Reports
* Events
* Historical Data
* Methodology
* Login
* Buy Now
Previous
Next
Go to List
NEPAL'S STEEL MELTING CAPACITIES CROSS 2 MNT IN 2022
NEPAL ADDS ABOUT 1.5 MNT MELTING CAPACITIES IN LAST 3-4 YEARS METALLICS IMPORTS
SEEN RISING, SPONGE IRON IMPORTS MORE THAN DOUBLE IN CY22 BILLET IMPORTS DROP
ABOUT 60% LA...
Sponge Iron
By
SteelMint Bureau
2848 Reads
22 Feb 2023, 10:02 IST
*
15 Shares
* Nepal adds about 1.5 mnt melting capacities in last 3-4 years
* Metallics imports seen rising, sponge iron imports more than double in CY22
* Billet imports drop about 60% last year
Morning Brief: Steel is one of Nepal's key industries, contributing
substantially to its growth story. The per capita steel consumption in this
import-dependent country is touching around 35 kg with finished steel demand
currently at almost 1.40 million tonnes per annum (mntpa). In this quantum,
flats are largely imported while in longs, the imported billet get converted
into rebar. In 2022, finished longs consumption hovered a little under 1 mnt
with flats at 0.45 mnt.
However, it may be noted that Nepal's steel consumption last calendar dropped
almost 30% y-o-y from 1.94 mnt in 2021. The drop was on account of the high
energy prices and power tariffs. Moreover, being import-dependent, Nepal
encountered balance of payments issues and needed to preserve foreign exchange
by limiting new LCs. In normal circumstances, its consumption hovers between
1.80-2.0 mntpa.
How are market dynamics changing?
But the steel market dynamics are changing and how? Earlier, especially in
2019-2020, the steel topography was dominated by an overwhelming share of
imported billets (mainly from India) which were rerolled into rebars. Naturally,
earlier, Nepal's own melting capacities were also comparatively lower, at a
modest 0.3-0.5 mntpa. This indicates Nepal has added around 1.50 mnt of melting
capacities in the last 3-4 years.
But, with the mills undertaking backward integration since the last couple of
years, SteelMint notes that Nepal's steel melting capacities rose to cross a
record 2 mntpa in 2022.
Resultantly, the earlier landscape, marked by active billet imports, is slowly
changing. From over 1 mnt of billets imports till 2021, SteelMint's data
reveals, volumes nosedived by around 60% to around 0.46 mnt in 2022.
Some of the major mills which are actively expanding their melting capacities
include Jagdamba Steels (with an installed melting capacity of 400,000 tonnes),
Jay Ambe Steel (200,000 t), Narayani Ispat, Jagdamba Enterprises and Sarbottam
Steel (150,000 t each) and many others.Moreover, in the 2022 Budget, the
Nepalese government had imposed import duties on several steel items in a bid to
control foreign exchange outgo amid rising inflationary pressure and also
generate employment. The proposed emphasis was on 'Make in Nepal'.Last year's
Budget had raised excise duties on several steel products like billets, wire
rods and structural steel. For instance, excise duty on billets was increased
from NPR 2500 to NPR 3500.
Sponge iron imports escalate: On the other hand, imports of sponge iron, a key
feed, have more than doubled from 0.26 mnt in 2021 to 0.54 mnt in 2022, reveals
SteelMint data, with the increase in Nepal's melting capacity. It is to be noted
that almost the entire sponge volume is supplied by India.
Nepal, in a bid to expand its feed base, is also importing an estimated 20,000
tonnes of ferrous scrap per annum.
Outlook
With increase in indigenous melting capacities, imports of metallics like sponge
iron and scrap are seen increasing in the medium-to-long term. The emphasis on
home-grown crude steel production will help to stem costlier imports and foreign
exchange drain. Plus, it is beneficial for any country to strengthen its
manufacturing base.
Where ferrous scrap is concerned, India, of course, is not in a position to
export the same, which gets consumed domestically. Thus, Nepal is buying small
parcels from the US and UK.
"The year 2022 was not very good for Nepal, as with the rest of the world,
However, as its economy improves, so will its melting utilisation rate. This
will push up imports of both sponge iron and scrap," said a source.
At the same time, billet imports will drop in tandem.
Nepal Steel and Raw Material Trade Summit:
SteelMint will hold the 2nd Nepal Trade Summit, in Kathmandu, Nepal over 1-2
March, 2023, where 300 participants, 20-plus speakers, and more than 30
exhibitors will gather under one roof to further explore opportunities in steel,
coal and cement.
Speakers will include representatives from Nepal's Ministry of Industry,
Commerce & Supplies, Nepal's Chamber of Commerce as well as from prominent steel
mills in Nepal. Speakers from India's leading electric furnace manufacturers
will explore latest steel melting technologies and a lot more.
Senior officials from major trading houses will give indications on the latest
trade headwinds.
Sessions will throw the spotlight on government policies and their impact on
Nepal's economy. Experts will discuss the future of Nepal's steel and cement
industries, the changing dynamics of the global steel markets, Nepal's raw
material sourcing options and rationalization of input costs.
Register now. Become a part of Nepal's growth story.
*
22 Feb 2023, 10:02 IST
15 Shares
Previous
Next
You have 1 complimentary insights remaining! Stay informed with SteelMint
Login Buy Now
Related Insights
Sponge Iron
Nepal sponge iron imports hit all-time high in CY'...
13 Feb, 16:29 IST
Sponge Iron
Indian sponge iron exports hit all-time high in CY...
23 Dec, 09:51 IST
Sponge Iron
Nepal: Sponge iron demand from India remains stron...
29 Jul, 17:15 IST
Sponge Iron
Nepal mills book healthy volumes of sponge iron fr...
22 Jul, 19:16 IST
Your files will start download, please check the files in the download section.
Dismiss
Sorry!
This Section is not available in smaller screen sizes,
Please open this page in the desktop version for this feature.
Done
Hi, there
Log in to your account
Forgot Password
Login With OTP
Loading...
Login credential verified Continue
Loading..
ENTER YOUR PHONE NUMBER
+1
Phone number
Verify
By tapping Verify, you are indicating that you accept our Terms of Service and
Privacy Policy. An SMS may be sent. Message & data rates may apply.
Login With Password
By logging in to SteelMint you have accepted the Terms & Conditions and Privacy
Policy
Login
Remember Me
* Your account will be blocked after five incorrect login attempts. Please reset
your password in case you've forgotten the same.
REGISTER IN MINUTES AND GET ACCESS TO ALL YOUR PERSONALIZED DATA INSIDE
STEELMINT
* Credible spot prices
* Actionable insights
* Live tenders
* Extensive data
* In-depth analysis
* Customised dashboard
Register Now Download Brochure
Hi, there
Log in to your account
Trouble Logging in?
Login With OTP
IND (+91) IND (+91) IND (+91) IND (+91) IND (+91) IND (+91) Mobile Number *
Send OTP
Enter OTP
Resend OTP Login With Password
By logging in to SteelMint you have accepted the Terms & Conditions and Privacy
Policy
Login
Remember Me
New Here ?
Create your account
Buy Now
Write a name for your map selection
Save Cancel
Company
About SteelMint.com Contact Help & FAQ Career CoalMint
Products
Iron ore Coal Scrap & Metallics Steel Ferro Alloys Logistics Ship Breaking
Region
India China South Asia South East Asia Far East Asia MEA (Middle East Africa)
CIS Nations UK, Europe Americas Oceania
Our Features
Prices Insights Tenders Statistics Reports Info-graphics Data Licensing Blogs
Content Partnership
Help
Contact Terms and Conditions Privacy Policy Old Website
Follow us on
Download App
Disclaimer:BigMint Technologies Private Limited has taken due care and caution
in compilation of content for its web site. Information is just for reference
not intended for trading purpose or to address your particular requirement. The
content includes facts, views, and opinions are of individuals and not that of
the website or its management. We and our content licensors are not giving
investment advice, tax advice, legal advice, or other professional advice. We
and our content licensors do not guarantee or warrant the accuracy, completeness
or timeliness of, or otherwise endorse these views, and opinions.
Users/Visitors have to make their own decisions based on their own independent
enquiries, appraisals, judgement, wisdom and risks. SteelMint and its
affiliates, or their employees, directors or agents shall not be liable or
responsible for any loss or costs or any action whatsoever arising out of use or
relying on the spot prices disseminated.
* 2009-2023 © BigMint Technologies Private Limited All Rights Resereved.
* Terms & Conditions
* Privacy Policy
Chat with Us
;