Bangladesh: Rebar Offers Unaltered on Moderate Demand

SteelMint learned that finished steel demand remained on average basis & few medium mils have lowered their productions by few hours as per market requirement. As per weekly assessment, the local Rebar prices in Dhaka, Bangladesh through the mid size mills have offered at BDT 59,000-59,500/MT (USD 702-708) for 500W. The prices are ex-works, including local taxes & size 8-32 mm. In line large mill, the producers have also unchanged their Rebar offers and reported at BDT 63,500-64,500/MT (USD 756-768), similar against last week offers, ex-works, including local taxes & size 8-32 mm. Recent price assessment of Bangladeshi Billet being reported around BDT 50,000-51,000/MT (USD 595-607) ex-works Dhaka. Sponge Iron Import Offers: Indian sponge iron export offers to Bangladesh reported at around USD 345-350/MT, CFR Chittagong. The buying remains active through the major mills in Chittagong, as per participants. Scrap: Local melting Scrap prices in Bangladesh fell slightly and registered at around BDT 37,500-38,000/MT (USD 446-452) ex-works, Chittagong. One of the largest integrated plant which is a supplier of building material to Real Estate and Housing Association of Bangladesh (REHAB), prior to last week shared that - finished steel demand might not be hampered as construction projects exists to build affordable flats for low income people. Further as per sources, new policy might also bring single digit VAT and lower rates for sectors which is focusing on public welfare. source: SteelMint

Bangladesh: Rebar Offers Unaltered on Moderate Demand

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