Bangladesh: Rebar Prices Remain Steady Amid Sluggish Demand
Medium size re-rollers in Bangladesh have slightly increased their rebar offers towards the beginning of the week due to changes in tax structure.
However thin trade volumes resulted prices to remain unchanged in retail segment towards the week end, as reported by participants.
As per SteelMint's assessment, presently the rebar trade reference prices of mid sized mills in Dhaka, Bangladesh is hovering at BDT 62,500-63,000/MT (USD 741-747); stable against last week assessment for 500 W. The prices are ex-works, including local taxes & size 8-32 mm.
The mentioned prices may vary by around BDT 1,000-1,500/MT (USD 12-18) as per mills as few trades were also reported below to BDT 62,000/MT (USD 736) levels by market participants due to slow movement in retail segment amid ongoing monsoon season and limited construction activities.
Rebar offers of large mills were reported around BDT 67,000-68,000/MT (USD 793-805) ex-works, Chittagong, including local taxes & size 8-32 mm. The prices are stable on weekly premises.
Meanwhile the domestic billet offers slightly moved up by BDT 500/MT (USD 6) and are reported at BDT 53,000-54,000/MT (USD 629-641), ex-works in Dhaka whereas bids and trade volumes still exist with minor difference.
Imported scrap offers remain stable
SteelMint learned that imported scrap prices remained mostly stable this week on considerable trades for both bulk and containerized scrap.
The price assessment for containerized Shredded scrap from Europe and North America for this week at around USD 332-337/MT CFR Chittagong. These offers are range bound from last week’s assessment. Few suppliers from USA and UK were reported to be offering at USD 338-340/MT, CFR.
In context to Sponge iron import offers, it was learned that they fell by USD 5/MT in a week's time and is currently evaluated at around USD 290/MT CFR Chittagong of Indian origin.
source: SteelMint
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