Medium range re-rollers have kept their rebar offers unchanged despite slow down in activities observed through the participants and trade volumes reported below to average levels amid ongoing Ramadan festival.
However SteelMint learned that, if demand continues to remain week then prices might get narrowed down up to specified level with consideration of rebar conversion spread.
Meanwhile, a official from a large mill in Chittagong stated that “finished steel demand is likely to improve post Ramadan festival with active response amid anticipation of improved construction activities which generally healthier prior to monsoon“.
Further, the market participants shared that coming budget will also have an impact in finished steel prices and cost level might get stretched up due to VAT slab as reported earlier in previous month.
As per asssement, presently the mid sized mills rebar prices in Dhaka, Bangladesh is hovering at BDT 60,500-61,000/MT (USD 716-722) for 500 W; unchanged on weekly basis. The prices are ex-works, including local taxes & size 8-32 mm.
In line large mills rebar, the prices have unchanged against previous week and offering at BDT 63,500-64,500/MT (USD 752-764). The prices are ex-works, including local taxes & size 8-32 mm.
Whereas as per sources, actual trade concluded with trade discount by BDT 1,000-1,200/MT (USD 12-14).
In line domestic billet prices, the Bangladeshi mills unaltered prices and reported at around BDT 51,000-51,500/MT (USD 604-610) ex-works in Dhaka.
Sponge iron import offers to Bangladesh currently evaluated at USD 320-325/MT of Indian origin, moreover the last purchase by major meals in Chittagong reported at close to USD 315-317/MT CNF Chittagong, Bangladesh.
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