Nepal: Steel Mills Suspend Operations Following Nationwide Lockdown

Nepal- India’s largest importer of billets & wire rod, has announced a lock down due to COVID-19 outbreak.

As per report from a local source SteelMint, the steel industries in Nepal have suspended operations since yesterday and will remain shut for a week i.e. till 31st Mar’20, following government orders. Further, the sources believe that the Nepal government may extend lock down.

Local transportation & banks will also remain closed, which may impact LC for imports of goods of recent deals.

There are about 35-40 medium & small sized plants in Nepal that produce rebars, structures, flat steel products and pipes. Nepal’s annual finished steel production is about 1.5-2.0 MnT.

Nepal’s share in India’s steel exports – Nepal imports nearly 1.0-1.2 MnT billets, 0.20-0.25 MnT wire rod & about 0.6 flat steel from India annually.