- Monsoon and weak construction activity keep demand subdued
- Billet prices rise $6/t w-o-w to around $438/t CNF Raxaul
Nepal’s rebar prices increased by NPR 1,000/t ($4/t) w-o-w to NPR 75,000-76,000/t ($492-499/t) for cash transactions, as per market sources. Prices for bank-guarantee deals were assessed at NPR 77,000-79,000/t ($505-518/t).
Despite the weekly price increase, market sentiment remains cautious, with buyers largely adopting a wait-and-watch approach amid weak consumption. Ongoing monsoon conditions and subdued construction activity continue to weigh on demand and limit market momentum.
Market participants expect construction activity to gradually improve once rainfall eases, which could provide some support to steel demand in the coming weeks.
Meanwhile, IF-EAF wire rod prices remained stable at around $510/t CNF Raxaul, reflecting firmer regional pricing. Billet prices increased by $6/t w-o-w to around $438/t CNF Raxaul, providing limited cost-side support to downstream steel products.
Overall, Nepal’s steel market remains subdued despite gradual price gains, with a sustained recovery in construction activity and end-user demand still awaited.
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