As per SteelMint’s weekly assessment, local steel – Rebar prices in Bangladesh remain unaltered amid slow supply movement due to monsoon.
Market participants mentioned that – sellers are having slightly optimistic toward market sentiments after budget outcome for infrastructure projects as massive spending will make better consumption & support to the steel industry.
As per assessment, currently local Rebar prices in Dhaka, Bangladesh hovering at BDT 59,500-60,000/MT (USD 713-719); stable against last week reported by medium-scale producers.
Similarly, the large scale producers who have their plants in Chhittagong, Bangladesh have slightly push offers on weekly basis and are reported currently at around 64,500-65,000/MT (USD 773-779). The prices mentioned above are ex-works & including local taxes.
In context to the price movement of raw materials – local Billet traded firm at around BDT 50,000-51,000/MT (USD 600-611/MT) & local Melting scrap at BDT 35,500-36,000/MT(USD 425-431) as per quality.
Meanwhile deals for Ship breaking plates (size – 16 mm) are reported at BDT 42,000-42,500/MT (USD 503-509) which is stable from last 3-4 days and the prices are ex-works & excluding local taxes.
Further, as per participants the large scale producers in Chhittagong have recently booked Indian Sponge iron at USD 358/MT CFR & USD 340/MT Benapole. Meanwhile, Imported melting scrap (HMS 80:20) buying reported at USD 365-370/MT CFR, Origin – Middle East.
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