The medium scale re-rollers in Bangladesh have further reduced their rebar offers looking at measured demand for finished steel. As per SteelMint’s weekly price assessment, the rebar prices dropped by BDT 1,000/MT (USD 12), W-o-W.
Further the trade participants in Dhaka, Bangladesh mentioned that, rebar demand has drifted down, which has affected the offers whether considered for large or medium scale mills.
Also, the sources in Chittagong who majorly deals with large scale mills cited, poor demand who have narrowed down production by 30-50%.
In line price range, the fresh offers of rebar through the mid-sized mills in Dhaka, Bangladesh reported at BDT 55,500-56,000/MT (USD 656-662); for 500 W. The prices are ex-works, including local taxes & size 10-32 mm.
However it is being analysed that, few particular medium scale mills rebar offers might vary by BDT 500-700/MT upon booking quantity along with regular parties. In addition, the traders are expecting that discount level could be raised further by mills in order to get better response.
In context to large scale mills, the rebar offers were reported at around BDT 60,000-61,000/MT (USD 709-721) ex-works Chittagong, which is BDT 1,000-1,200/MT down against last assessment, including local taxes & size 10-32 mm shared by trade sources.
Meanwhile the domestic billet offers assessed at BDT 44,000-45,000/MT (USD 520-532); ex-works in Dhaka.
Coming to price movements in raw materials, the fresh offers of imported scrap to Bangladesh have witnessed surge by USD 5-8/MT and reported at USD 270/MT, CFR Chittagong, for containerized Shredded scrap from Europe and North America.
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