Nepal: Rebar prices rise by NPR 600/t ($7/t) w-o-w on producer-led hikes despite weak demand

Nepal's rebar offers increased by NPR 600/t ($7/t) w-o-w to NPR 71,500-73,500/t ($503-517/t) ex-Birgunj for cash guarantee sales and NPR 73,500-75,500/t ($517-532/t) for bank guarantee transactions, as manufacturers raised prices to improve margins. However, weak demand limited the extent of mills' price hikes and prevented spot prices from rising further. Meanwhile, wire rod (IF-EAF) offers dropped by $6/t to around $461/t CNF Raxaul.