Nepal: Domestic rebar prices increase by NPR 1,000/t ($8/t) w-o-w on positive market trends

In Nepal, rebar offers increased by NPR 1,000/t ($8/t) reaching NPR 79,000-80,000/t ($596-604/t) and NPR 82,000/t ($619/t) exw for cash guarantee and bank guarantee w-o-w, respectively. Moreover, market demand is showing positive trends.

WRC Import offers w-o-w

• BF route WRC offers edged down by $5-10/t w-o-w to $540-545/t exw against $550/t last week. Moreover, a deal of around 1,350 tonnes (t) has been heard for the same price levels.
  
  
• EAF/IF route offers edged up by $5-10/t w-o-w to $520-530/t exw against $515-520/t exw in the previous week, as reported by players based in Durgapur.
  
  
• Indian HRC offers remained stable at $630/t CNF, while another steel maker lowered offers to $595-600/t CPT following a global price drop.
  
  

Product wise import volume

• Nepal's finish long steel imports for February 2024 increased by 2,562 t or 21% m-o-m to 14,804 t against 12,242 in January 2024.
  
  
• Whereas, semi-finished steel imports fell by 9,224 t or 46% m-o-m to 10,630 t in February 2024 against 19,854 t in January 2024
  
  
• In addition, imports for finish flat steel declined 14,051 t or 27% m-o-m in February to 40,906 t compared to 55,957 t in January 2024.
  
  
• In February 2024, the steel (finish long, semi-finished, finish flat) volume imported by Nepal from India decreased by 9,416 t or 26% m-o-m hovering around 27,150 t against 36,566 t in January 2024.