Bangladeshi medium mills have kept their Rebar offers unchanged this week on average trade movement and measured trade discounts.
As per sources, trade volumes are on average pace through the traders & retailers and discounts are hovering on the same level at around BDT 500-700/MT (USD 6-9).
As per weekly assessment, the mid sized mills Rebar prices in Dhaka, Bangladesh is hovering at BDT 58,500/MT (USD 695); same as against last week, 500 W. The prices are ex-works, including local taxes & size 8-32 mm.
Large mills have rolled-over Rebar offers this week and reported at BDT 63,500-64,500/MT (USD 754-766), 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 slightly raised prices and reported at around BDT 50,000-50,500/MT (USD 594-600) ex-works in Dhaka; increase by BDT 500/MT against last week following hike in scrap prices.
Sponge iron import offers: Export offers being unchanged from India against last week and currently evaluated at around USD 330/MT CNF Chittagong, Bangladesh.
Further, as per sources the matter of price hike in gas are still under negotiation as per recent conversation with market participants.
Scrap: Imported scrap offers to Bangladesh more or less firm and currently evaluated for containerised Shredded at around USD 345-350/MT, CFR Chittagong. Scrap yards based in UK and Australia were offering Shredded in the range of USD 350-354/MT, CFR but no major deal has been confirmed.
Bulk ferrous scrap imports jump five folds: The country imported 146,000 MT of bulk scrap in Mar’19, surged by 394% M-o-M against 29,550 MT bulk scrap imports in Feb’19. Bulk scrap imports in Feb’19 moved down on high inventories which could have supported importers to return into the market for March delivery shipment.
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