Nepal’s steel market remained under pressure this week amid subdued construction demand and cautious buying sentiment. Rebar prices declined by NPR 1,600/t ($10/t) w-o-w to NPR 77,500-79,500/t ($505-519/t) on 23 May for cash deals, while bank guarantee transactions were heard at NPR 79,500-81,500/t ($519-532/t). Meanwhile, IF-EAF wire rod prices also fell by $10/t w-o-w, with offers at around $540/t CNF Raxaul, reflecting continued weakness in regional steel trade.
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