As per SteelMint assessment, local Rebar prices in Bangladesh have moved down by BDT 1,000/MT (USD 12) on weekly basis due to low demand and decline in Billet prices.
Market participants reported slightly dull buying inquiries amid upcoming festival & piling up of inventories resulted re-rollers to lower offers. It is expected that prices may come under pressure further in near term.
As per assessment, currently local Rebar prices in Dhaka, Bangladesh hovering at BDT 58,000/MT (USD 687); fall by BDT 1,000/MT (USD 12) against last week reported by medium-scale producers.
Whereas, the large scale producers in Chittagong, Bangladesh have kept offers unchanged on weekly basis and are reported currently at around BDT 65,500-66,000/MT (USD 776-782). The prices mentioned above are ex-works & including local taxes.
The local Billet prices in Dhaka reported slump about BDT 500/MT (USD 6) and currently traded at BDT 50,000/MT (USD 593/MT). Meanwhile, it’s being assessed in Chittagong at BDT 53,500-54,000/MT (USD 634-640/MT) unchanged against last week.
In context to raw materials, local melting scrap hovering at BDT 34,000-34,500/MT (USD 403-409) as per quality. Ship cutting plate (16 mm) prices assessed at BDT41,500 – 42,000/MT (USD 492-498).
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