The Nepal and Indian governments have extended their lockdown till May 7 and May 3, respectively, which is likely to impact trade between the nations in the near future.

 

Nepal was the major importer of billets from India. The country imported 1.05mn mt of billets from India in the fiscal year 2020 (April 2019- March 2020) followed by Italy with 306,000mt, Sri Lanka with 245,000mt, Indonesia with 231,000mt, Thailand with 213,000mt.

 

India exported 2.81mn mt of billets in the period, up by 31pc from 2.15mn mt in the prior year, according to Davis Index Analysis report. In March 2020, India’s total billet exports were 184,000mt, up by 2.7pc from 179,000mt in March 2019.

 

Meanwhile, Indian manufacturers are selling finished steel products in overseas market like China. Other countries that have expressed interest in importing steel from India were Bangladesh, Middle East and Southern Europe.

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