Rebar offers in Nepal for both cash guarantee and bank guarantee fell by NPR 500-1,000/t ($4-7/t) w-o-w to NPR 78,000/t ($584/t) exw and NPR 80,000-81,000/t ($599-607/t) exw compared to NPR 79,000-80,000/t ($592-599/t) and NPR 82,000/t ($614/t) exw, respectively, amid slow market demand.
Imported sponge iron, steel offers range-bound
- BF-route wire rod coil (WRC) offers remained flat w-o-w at $540-545/t exw.
- Moreover, EAF/IF WRC offers remained unchanged w-o-w at $520-525/t exw, as reported by players based in Durgapur.
- However, no deal has been heard amid low domestic demand.
- Sponge iron offers inched up by $1/t reaching $363/t CPT Nepal for FeM 80% (70:30 mix). Around 3,100 t of sponge iron were sold at $336-341/t LTW from eastern India, equivalent to $360-365/t CPT Nepal.
Product-wise imports in March
- Nepal’s finished flat steel imports for March rose by 3% or 1,071 tonnes (t) m-o-m to 41,977 t against 40,906 t in February.
- Moreover, semi-finished steel imports increased by 41% or 4,330 t m-o-m to 14,960 t in March compared to 10,630 t in February.
- In addition, finished long steel imports in March increased by 20% or 2,926 t m-o-m to 17,730 t against 14,804 t in February.