Nepal: Rebar offers remain stable w-o-w in slow market
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Nepalese rebar offers remained stable for the week at NPR 79,000-80,000/t ($595-603/t) and NPR 82,000/t ($618/t) exw for cash guarantee and bank guarantee, respectively, amid slow market demand.
Imported sponge and steel offers remain range-bound
- BF route wire rod coil (WRC) offers remained unchanged w-o-w at $540-545/t exw.
- Moreover, EAF/IF WRC offers remained range-bound at $520-525/t exw, as reported by players based in Durgapur.
- Despite slow market sentiments and stable offers, a deal of full rake of around 2,700 tonnes (t) of BF-route billets was heard concluded at $515-520/t exw.
- Four rakes (totaling 10,200 t) of sponge iron were sold at approximately $360/t CPT Nepal. Additionally, about 3,000 t of PDRI sponge (78-79% FeM) for Nepal were sold by road at $303-305/t ex-mill in eastern India.
Nepal product wise-import volume
- Nepal's finished 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 of finished 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.
