Bangladesh: Re-Rollers Keep Rebar Offers Unchanged

Bangladesh based large & medium scale mills have kept their rebar offers unchanged this week amid sustained supply movement across regions.

However, re-rollers are still offering trade discounts to regular associates (traders/retailers) by around BDT 500-1,000/MT upon booking quantity.

As per sources, trade volumes are near to firm or average which might not disturb existing finish steel prices until raw material prices witness any major change as imported sponge lumps has slightly increased by USD 5-10/MT on weekly basis. Imported scrap prices in Bangladesh have remained mostly range bound this week.

The mid sized mills rebar prices in Dhaka, Bangladesh is hovering at BDT 59,500-60,500/MT (USD 705-717) for 500 W; unchanged on weekly basis. The prices are ex-works, including local taxes & size 8-32 mm.

Further, the large mills have roll-over Rebar offers this week and offering at BDT 63,500-64,500/MT (USD 752-764), 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 unaltered prices and reported at around BDT 51,000-51,500/MT (USD 604-610) ex-works in Dhaka.

Sponge iron import offers currently evaluated at USD 335-340/MT, which was last week assessed at around USD 330-335/MT CNF Chittagong, Bangladesh.

Bangladesh remains top buyer for scrapped ships

Bangladesh- one of the world’s largest ship recycler, remained in the top buyer position for ship breaking scrap in Mar’19, as per recent released data by GMS data, maintained by SteelMint.

According to data by GMS, the Bangladesh has imported about 312,397 LDT Ship breaking scrap in Mar’19, higher by 20.7% M-o-M which includes dry as well as wet containers.

The country’s bulk ferrous scrap import being sharply surged to 146,000 MT in Mar’19 against 29,550 MT in Feb’19.

Source – SteelMint Research