Steel mills in Nepal have lowered rebars offers by NPR 2,000/t ($15/t) this week. Current prices of rebars (12mm) are in the range of NPR 93,000-94,000/t ($710-720/t) exw, excluding VAT. Limited inquiries at previous quoted offers and a decline in imported EAF/IF billets prices from India have kept market sentiments bearish. This weighed on rebars prices.
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