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Nepal: Rebar offers up by NPR 1,000 ($7/t) w-o-w

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BigMint Bureau

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13 Apr 2024, 13:24 IST

Nepal: Rebar offers up by NPR 1,000 ($7/t) w-o-w

Nepalese rebar offer for buyers offering cash and bank guarantees (credit) rose by NPR 1,000/t ($7/t) w-o-w to NPR 81,000-82,000 /t ($605-613/t) and NPR 84,000-85,000/t ($628-635/t) exw, respectively, against NPR 80,000-81,000/t ($598-605/t) and NPR 82,000-84,000/t ($613-628/t) seen in the previous week. The increase in power outages, despite slow domestic demand, has lead to the hike in rebar prices.

Product-wise domestic prices in Nepal

Indian BF-route wire rod coil offers went up by $15/t w-o-w to $570-575/t exw compared to $555-560/t in the previous week. However, no deals have been heard concluded.

Indian EAF/IF-route wire rod offers rose by $15/t w-o-w at $550/t exw-Durgapur against $535-545/t exw last week, as informed by players based in Durgapur.

Sponge iron prices for FeM 80% (70:30 mix) climbed $4/t this week to $383/t CPT Nepal. Even though prices went up, there weren't any exports this week as buyers are cautious due to the current slowdown in global steel demand.