Bangladesh: Rebar Prices Remain Constant on Average Demand

Rebar demand remained stable in domestic market of Bangladesh on average demand-supply, as per SteelMint’s weekly assessment.

As per assessment, currently the local rebar prices in Dhaka, Bangladesh of mid size mills is hovering around BDT 57,000-58,000/MT (USD 690-696) for 500W, vary as per mills and brands which is more or less at same price range.

Similarly, the large scale manufacturers have rolled-over their rebar prices amid moderate demand as no major inventories heard from market participants. The latest rebar offers by the producers stated at around BDT 65,000-66,000/MT (USD 780-792). The prices mentioned above for 8 to 32 mm rebar, ex-works & including local taxes.

One of the largest integrated plant has shared that “demand suppose to increase after election and not engaged with any major piled up stock amid ongoing infra projects supply”

Further, the local Billet prices in Dhaka, Bangladesh reported to be firm and the fresh deals reported at around BDT 49,000- 49,500/MT (USD 588-594/MT).

Scrap: Local melting Scrap prices in Bangladesh are hovering around BDT 36,000-36,200/MT (USD 429-432) excluding taxes.

Sponge iron import offers: Indian sponge iron export offers to Bangladesh remain firm and are assessed at USD 360-365/MT, CFR Chittagong.

Imported Wire Rod offers for 5.5 mm reported at around USD 570-575/MT CFR Bangladesh of Chinese cargo, as per last assessment.

As per vessel line up data maintained by SteelMint, Bangladesh has imported a bulk vessel of Rebar (TMT) in Oct’18 for approximately 4,000 MT shipped by India’s JSW Steel might get shipped for BHEL for ongoing project.