Bangladesh: Rebar Trade Volumes Fall on Weak Demand
Medium sized re-rollers in Bangladesh have kept their rebar offers unchanged against last week's assessment. However limited buying inquiries amid seasonal slowdown have urged them to offer trade discounts depending upon quantity.
Ongoing monsoon season has slowed down construction activities; this has resulted in low consumption of finished steel and very thin trades observed across regions in the country.
As per industry participants, trade volume may remain restricted due to upcoming Eid festival as well as tight monetary policy from nation’s banking sector which is being hampered, as per trade sources.
Further, few trade participants shared that monthly trade volume has negatively affected and hardly reached on targets considering month on month basis.
As per SteelMint's assessment, presently the rebar trade prices of the mid sized mills in Dhaka, Bangladesh is hovering at BDT 59,000-60,000/MT (USD 694-706); stable against last week assessment for 500 W. The prices are ex-works, including local taxes & size 10-32 mm. However, few trades being placed at BDT 58,000-59,000/MT as well upon considerable quantity.
In context to large scale mills, the rebar offers were reported at around BDT 65,000-66,000/MT (USD 765-776) ex-works, Chittagong, including local taxes & size 10-32 mm. These prices are stable on weekly premises.
Further, domestic billet offers observed stability and reported at BDT 48,500-49,000/MT (USD 571-576); ex-works in Dhaka.
Following weak demand & constant drop in domestic steel prices in Bangladesh, the major producers in Chittagong have slowed down raw material bookings as there are no fresh bookings for sponge iron imports and the offers of Indian origin sponge iron (FeM 79-80, 100% lumps) reported at USD 280-285/MT CFR Chittagong, Bangladesh.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
