Local Steel – Rebar prices in Bangladesh remain unaffected over moderate demand amid slight fall in local scrap prices.
As per SteelMint’s weekly assessment, local Rebar prices in Bangladesh seems stable amid average supply movement in monsoon and ongoing Ramadan festive season.
Currently Rebar trades hovering around BDT 59,500-60,000/MT (USD 704-709/MT) stable against last week reported by medium-scale producers.
Similarly the large scale producers have maintained offers on weekly basis which is currently reported at around 63,500-64,000/MT. The prices are ex-works, including local taxes & size – 12mm.
In context to the price movement of raw materials – local Billet traded firm at around BDT 52,000/MT. However, local melting scrap registered slight price fall to BDT 36,500-37,000/MT against previous week at BDT 37,000/MT & Ship breaking plate, size – 16 mm assessed at BDT 42,000-42,500/MT, as per industry participants.
As per assessment , the price gap between large & medium scale rebar prices has narrowed down to BDT 4,000/MT (USD 47/MT) than the earlier which was recorded at around BDT 6,000-8,000/MT.
SteelMint also learned from trade sources, presently inventory of finished steel products in the medium scale industries are as usual and there is no selling pressure.
Further the Industry anticipates healthier trends in the local market as Bangladesh’s National budget is to be tabled on 07th June 2018.
As per sources, the steel industries is hopeful for some tax relief on import of scrap. Also, the producers are assuming good amount of investment for local infrastructure, which likely to boost steel demand in the country.

Leave a Reply