Nepal: Rebar offers remain stable w-o-w amid recent deals
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Nepal's rebar offers for cash and bank guarantee remained stable w-o-w to NPR 91,000-93,000/t ($682-697/t) and NPR 94,000-95,000/t ($704-712/t) exw. Moreover, a deal of around 5,000 tonnes (t) has been heard concluded at similar price levels.
However, concerns are rising due to load shedding, which may impact production in near future.
Product-wise domestic prices in Nepal
- Sponge iron export prices rose by $9/t. This increase is likely due to the variations in domestic sponge iron prices across India. Leading prices for exports have risen to $412/t CPT Raxaul for FeM 80% (70:30 mix) destined for Nepal. Approximately 5,000 t of sponge iron sold to Nepal.
- Indian BF-route wire rod coil offers remained stable w-o-w at $600/t exw . Moreover, no deals have been heard concluded.
- Indian EAF/IF-route wire rod offers rose by $5/t w-o-w to $575/t exw, against $570/t a week ago, as informed by market players based in Durgapur.