Nepal: Rebar prices fall amid weak demand; wire rod steady
Nepals rebar prices declined by NPR 2,000/t ($13) w-o-w to NPR 89,000-91,000/t ($591-604) for cash deals, while bank guarantee deals stood at NPR 91,000-93,000/t ($604-617/t). Demand weakened following the new government formation, amid administrative adjustments and volatility in global petroleum prices. Market participants expect improvement only after the new budget implementation. Meanwhile, IF-EAF wire rod prices remained steady at around $570/t CNF Raxaul.