Nepal: Rebar prices increase by $17/t w-o-w due to concerns over rising production costs

Nepal’s rebar prices rose NPR 2,400/t ($17/t) w-o-w to NPR 74,000-76,000/t ($516-530/t) for cash guarantee sales and NPR 76,000-78,000/t ($530-544/t) for bank guarantee transactions. Frequent power cuts led to concerns over potentially higher production costs, and buyers made purchases due to expectations of price hikes. However, demand has not recovered significantly. Meanwhile, wire rod (IF-EAF) offers were unchanged w-o-w at $461/t CNF Raxaul.