Rebar prices slightly moved up in domestic market of Bangladesh through the medium scale mills amid positive sentiments along with better response by the local participants, as per SteelMint’s weekly assessment.
As per assessment, currently the local rebar prices in Dhaka, Bangladesh through the mid size mills are hovering around BDT 57,500-58,000/MT (USD 685-691) for 500W. The prices are ex-works, including local taxes & size 8-32 mm.
However, as per the market participants the finished steel demand will gradually pick up as current price range will take its time to absorb in domestic market among the traders.
One of the participants shared that, finish long steel demand will either sustain in existing price range or slightly move up in near term as per current scenario.
The current offers by large producers stated firm at BDT 63,000-65,000/MT (USD 751-775) against last week offers, ex-works, including local taxes & size 8-32 mm.
Meanwhile, the local Billet prices in Dhaka, Bangladesh surged and the fresh deals reported at around BDT 50,500/MT (USD 602/MT).
Scrap: Import Scrap (Shredded) offers to Bangladesh reported fall by USD 5-10/MT W-o-W and stood at USD 325-330/MT, as per sources.
Sponge iron import offers: Indian sponge iron export offers to Bangladesh slightly down due to currency appreciation amid falling prices in domestic market and the prices hovering at USD 340-345/MT, CFR Chittagong.
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