Nepal: Domestic rebar prices remain stable, import bookings subdued

In Nepal, rebar offers remained flat at NPR 78,000-79,000/t ($588-595/t) and NPR 81,000-82,000/t ($611-618/t) exw for cash guarantee and bank guarantee w-o-w, respectively. Moreover, market demand is showing positive trends.

However, concerns are rising as load shedding has increased to 10-12 hours per day, potentially impacting steel production and demand.

Imported WRC deals drop

BF and EAF/IF route WRC offer edged down by $10/t and $5/t w-o-w to $550/t exw and $515-520/t exw against $560/t and $515-520/t exw in the previous week, as reported by players based in Durgapur. Also, Indian HRC offers remained stable at $630/t CNF. Furthermore, a deal for two rakes of BF route billet was heard, concluding at $516/t exw.

Nepal steel imports

Nepal steel (semi finished, finish flat and finish long) imports in calendar year 2023 (CY'23) is declined by 157,121 tonnes (t) or 14% y-o-y to 931,759 t against 1,088,880 t in CY'22. Moreover, the same fell by 217,13 t or 25% m-o-m in February 2024 reaching 663,40 t as compared to 880,53 t in January 2024.