Nepal govt increases import duty on steel products by up to 20%

The Nepal government has raised import duties on several steel products like CR sheets, wire rods, structural steel and HR strips (patra) by 5-20% in its Budget announcement for the upcoming fiscal. Duties on HR sheets and billets have been kept unchanged. Out of 2.06 mnt of steel imported by Nepal in CY’21, the share of billets was around 1 mnt followed by flat steel at 0.65 mnt and longs at 0.31 mnt. HRC imports stood at around 0.37 mnt in CY’21.