Nepal’s domestic rebar prices remain stable, while billet import offers drop

Local mills in Nepal reported stability in rebar prices amidst seasonal active demand, however rising Covid-19 cases remain a big concern and may affect the prices in the coming days, they added. Current offers for 10-16 mm rebar is at NPR 81,000-82,000/t ($676-685) exw, excluding VAT & ED. In line, billet import offers from India are continuously falling. Currently, the offer is at $565-570/t CPT Nepal (equivalent to $540-545 exw India), down by $10-15/t, w-o-w. The major Nepal mills are holding fresh bookings of billet, wire rod from India on expectation of further fall in prices.