Medium size re-rollers in Bangladesh have slightly reduced their rebar offers owing to lessened buying interest from the traders and associates as well amid monsoon season.
As per SteelMint’s assessment, presently the rebar offers through the mid sized mills in Dhaka, Bangladesh is hovering around BDT 61,500-62,000/MT (USD 728-734); down by BDT 500-1,000/MT (USD 6-12) as against last week assessment for 500 W. The prices are ex-works, including local taxes & size 8-32 mm.
SteelMint learned that, very few trades very concluded even on lower than current offers by BDT 500-1,000/MT (USD 6-12) which is a matter of concern for industrialists where advance tax still exists with complications and most of the participants were assuming that finish steel prices should find support due to amendment in tax structure.
In line with large mills rebar offers reported at around BDT 66,000-67,000/MT (USD 781-793) ex-works, Chittagong, including local taxes & size 8-32 mm. These prices are stable on weekly premises.
Imported raw material offers
SteelMint’s assessment for containerized Shredded scrap stands at USD 328-333/MT, CFR marginally down against last week. SteelMint assessed that imported containerized HMS(80:20) scrap offers hovering at USD 310-315/MT from Australia and from UK offers stood at USD 310/MT, CFR Chittagong, Bangladesh.
In context to Sponge iron import offers evaluated at USD 290-295/MT CFR Chittagong, of Indian origin. These offers down by USD 5/MT on weekly premises.
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