Rebar offers of mid sized mills in Bangladesh have slightly gained this week following active demand by participants, as reported by sources.
SteelMint learned that, finished steel demand is better as compared to last week and medium mills slightly increased rebar offering by around BDT 500/MT (USD 6) in Dhaka.
As per weekly assessment, the local Rebar prices in Dhaka, Bangladesh through the mid size mills hovering at BDT 59,500-60,000/MT (USD 708-714) for 500W. The prices are ex-works, including local taxes & size 8-32 mm.
However, the large mills have kept Rebar prices unchanged and reported at BDT 63,500-64,500/MT (USD 756-767), similar against last week offers. The prices are ex-works, including local taxes & size 8-32 mm.
Meanwhile domestic Billet price range being increased in Bangladesh and stood at around BDT 50,500-51,000/MT (USD 601-607), which was BDT 50,500-51,000/MT (USD 601-607) last week, ex-works in Dhaka.
Sponge Iron Import Offers: As per participants report, recent deal of sponge iron import has been concluded of Indian origin at around USD 330/MT, CNF Chittagong in Bangladesh. The prices moved down by USD 10-15/MT as against last week.
Scrap: Local ship cutting Scrap prices in Bangladesh slightly improve and registered at around BDT 37,500-37,800/MT (USD 446-450) ex-works, Chittagong.
| Current Prices (BDT), Ex-work Dhaka, inclusive of taxes | ||
| Particular | 28-Feb’19 | 21-Feb’19 |
| Billet (Ex-Dhaka) | 50,500-51,000 | 50,000-51,000 |
| Rebar (Medium Mills) | 59,500-60,000 | 59,000-59,500 |
Source: SteelMint Research
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