Nepal: Rebar prices drop NPR 1,600/t ($11/t) on oversupply, low demand
Nepals rebar prices fell sharply by NPR 1,600/t ($11/t) w-o-w to NPR 72,000-74,000/t ($499-513/t) for cash guarantee sales and NPR 74,000-76,000/t ($513-527/t) for bank guarantee transactions. The decline reflects weak market sentiment due to high supply, low demand, slow development activity, and ongoing political instability. Meanwhile, wire rod (IF-EAF) offers remained unchanged w-o-w at $466/t CNF Raxaul.
