Bangladeshi mills have kept Rebar offers unchanged this week following average response through the market participants, although last week there was price reduction through the mills by BDT 500/MT (USD 6) owing to weak demand.
SteelMint learned that, presently local finished steel demand in Bangladesh is on average basis as routine bookings was noticed through the traders & retailers end in the presence of construction season.
Further, few medium range mills indicated that there could be a price hike in gas prices by Bangladesh Energy Regulatory Commission (BERC) and recently few rumors are getting notified among six gas distribution companies and might impact finished steel prices to large extent.
As per assessment, local Rebar prices in Dhaka, Bangladesh of the mid size mills hovering at BDT 58,000-58,500/MT (USD 691-697); same as against last week, 500W. The prices are ex-works, Dhaka, including local taxes & size 8-32 mm.
— Rani Re-Rolling Mills Ltd. (Rani TMT) a mid sized mill in Dhaka, Bangladesh has offered Rebar at BDT 62,000/MT, ex-factory & size 10-28 mm.
In addition, the large mills being roll-over Rebar offers this week and reported at BDT 63,500-64,500/MT (USD 757-768), similar against last week offers. The prices are ex-works, including local taxes & size 8-32 mm.
In line domestic Billet prices, the Bangladeshi mills have maintained prices and reported at around BDT 49,500-50,000/MT (USD 590-596); stable as against last week, ex-works in Dhaka.
— Sponge iron import offers being unaltered of Indian origin and currently reported at USD 330/MT CFR Chittagong, Bangladesh. As per sources, small lots have been booked by mid sized mills in the same price range.
| Current Prices(BDT/MT), Ex-work Dhaka, inclusive of taxes | ||
| Particular | 16-Mar’19 | 07-Mar’19 |
| Billet (Ex-Dhaka) | 49,500-50,000 | 49,500-50,000 |
| Rebar (Medium Mills) | 58,000-58,500 | 58,000-58,500 |
Source: SteelMint Research
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