Bangladesh local Steel – Rebar & Billet prices remain supported over less working hours in the plants due to festive season of Ramadan. Also, active demand from project works due to approaching monsoon season in the country have kept prices uptrend.
As per SteelMint’s weekly assessment, the local mills based in Dhaka have increased Rebar prices by BDT 500-1,000/MT (USD 6-12), while large scale producers have maintained offers firm. Further, the billet prices also moved up around BDT 1,000-2,000/MT (USD 12-24) over rise in local ship breaking scrap prices in same proportion.
The medium mills Rebar prices reported to be around BDT 59,000/MT (USD 698). However as per sources the the large mills like BSRM have maintained offers firm and reported at around BDT 63,000-64,000/MT (USD 745-757). The prices are for 12mm Rebars, ex-works & including local taxes at 15%.
The participants stated that “procurement activities by infrastructure developers were slightly up amid completion of few projects as monsoon season approached recently in the nation.
Amid Ramadan festive season coupled with less operational hours has affected supply and creates uncertainty among traders” they added.
After the price hike by BDT 1,000-2,000/MT (W-o-W) local billet traded at BDT 52,000/MT (USD 615), while few quoting heard to be around BDT 52,500-53,000/MT over rising scrap prices.
The local scrap offers assessed at BDT 42,000-43,000/MT or USD 497-509/MT (Ship breaking plate, size – 16 mm) and melting scrap at BDT 37,500-3,800/MT or USD 444-450/MT, as per market participant. All prices are including local taxes at 15%.
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