Domestic steel and iron prices rise as India seeks ban

Nepal has been majorly importing raw material for iron and steel and finished products from India mainly for construction purposes.

Representatives from the steel and iron ore sectors, including the forging industry in India, have been urging their government to impose a ban on steel and iron exports to Nepal. As a result, the steel and iron prices have increased in the domestic market but domestic steel manufacturers and contractors are hoping that India will not impose the ban, as Nepal has minimal import share of steel and iron compared to other countries.