The first rule should be enough - unless you're limiting access to port 7162 in INPUT
chain somehow.
In fact, your UDP packet shouldn't even pass through the INPUT
chain with destination port set to 162, at least according to the following diagram: https://upload.wikimedia.org/wikipedia/commons/3/37/Netfilter-packet-flow.svg
Furthermore your INPUT
rule seems too complicated. UDP is a stateless protocol so you're dealing with some form of states inside the netfilter. I haven't even found proper documentation on what those states mean when used with UDP.
Try monitoring both ports with tcpdump
program for clues (note: if you drop any packets in PREROUTING
chain, tcpdump won't see them it can see only the incoming packet on port 162, even listening on loop back won't reveal the redirect).
Edit: You're not trying the rule with connections within single machine, right? PREROUTING
isn't traversed on localhost-only connections.