Nepal: Long steel market faces pressure despite stable rebar prices
Nepal's rebar prices remained stable w-o-w at NPR 77,000-79,000/t for cash deals and NPR 79,000-81,000/t under bank guarantees. However, market sentiment stayed cautious due to weak construction demand and slow buying activity. Meanwhile, IF-EAF wire rod prices continued to soften, with current offers around $540/t CNF Raxaul. Ample supply and subdued procurement interest have created pressure on the country's long steel market.