Bangladesh mills raise rebar offers by $24/t on hike in production cost

Major steel mills in Bangladesh such as BSRM and GPH have raised rebar offers by BDT 2,000/t ($24) and are currently offering at BDT 72,000-74,000/t, exy Chittagong, SteelMint learnt from sources. Mills have raised rebar offers due to hike in cost of steel production due to higher scrap import prices. However, finished steel sales remain dull and the upcoming monsoon season from Jul’21 is likely to keep prices under pressure.