- Rebar prices climb on stronger demand and supply constraints
- Rising input costs and production cuts bolster market sentiment
Nepal’s cash rebar prices increased by NPR 2,000/t ($13/t) w-o-w to NPR 88,000/t ($574/t), supported by improved demand, higher raw material costs and tight market supply, according to BigMint.
Bank-guarantee (BG) rebar prices remained firm at NPR 90,000-92,000/t. Market participants reported production cuts at some mills due to power-related issues, further tightening rebar availability in the domestic market.
Raw material prices also moved higher during the week. Sponge iron prices increased by $5/t w-o-w to $353/t cpt Raxaul, while billet prices rose by $3/t to around $493/t CNF Raxaul.
Meanwhile, IF-EAF wire rod prices increased by $5/t w-o-w to around $575/t CNF Raxaul.
Market participants noted that improved buying activity, coupled with production disruptions and limited availability, has supported the recent price increase. Higher input costs are also providing additional support to mills’ offers. With supply remaining constrained and demand improving, market sentiment has turned positive, although participants continue to monitor power availability and raw material trends.
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