Nepal steel market softens further as rebar and wire rod prices fall
Nepal’s rebar market witnessed a further correction this week, with trade prices declining by NPR 2,500/t ($26/t) w-o-w to NPR 76,500-78,500/t ($506-519/t) for cash deals and NPR 78,500-80,500/t ($519-532/t) for bank guarantee transactions. Market sentiment remained cautious due to weak construction demand and slow buying activity. Meanwhile, IF-EAF wire rod prices also softened, with current offers reported around $525/t CNF Raxaul.
