Nepal Extends Lockdown for One More Week, Industries to Remain Close

Nepal government has extended its national lockdown by another a week till midnight of 7 Apr'20, SteelMint confirmed from the local industries based in Biratnagar, Nepal.

As per them, the Cabinet made the decision on the recommendation of the Coronavirus Control High-level Task Force headed by Defence Minister on the WHO criteria of a safe 14 day incubation period for the virus.

Earlier, the government had announced lockdown till 31st Mar'20.

Further if sources are to be believed, the lockdown may extend further as India is also facing lockdown till 14th Apr'20 to prevent spread of COVID-19.

There are about 35-40 medium & small sized plants in Nepal that produce rebars, structures, flat steel products and pipes. Nepal's annual finished steel production is about 1.5-2.0 MnT.

Sources reported, owing to suspended local transportation and lockdown borders, supply of steel products have been halted to Nepal from India. This may result in drop Nepal's steel imports in coming months.

Recently released custom data being shown that, Nepal's billet imports from India dropped to 3 months low with 97,866 MT in Mar'20, also it drop slightly by 4.7% M-o-M.