According to Mining News Pro - As per weekly assessment, currently local Rebar (8-32 mm) prices in Dhaka, Bangladesh by medium-scale mills is hovering at BDT 55,500-56,000/MT (USD 662-668), slip by BDT 500/MT against last week offers.
Although, the large scale manufacturers have kept their prices unchanged and mentioned Rebar demand is little bit slow as people are in wait & watch mood due to upcoming elections in the country.
The latest rebar offers by large scale mills reported at around BDT 62,000-62,500/MT (USD 740-746), Size – 8 mm to 32 mm, 500 W. The prices mentioned above are ex-works & including local taxes.
Further, the domestic Billet prices in Dhaka remained more or less firm and currently traded at BDT 49,500-50,000/MT (USD 591/MT). Procurement interest is slow due to poor off take of finish steel products, as per participants.
Scrap prices -- Domestic melting scrap (HMS) reported at BDT 34,500-34,700/MT (USD 412-414) Ex-Chittagong & Imported scrap HMS offers from UK noticed at USD 360-364/MT.
Sponge iron import offers -- Indian sponge iron export offers to Bangladesh remain firm and are assessed at USD 378-380/MT, CFR Chittagong. As per participants, in recent a large mill based in Chittagong has booked near about 3,000 MT sponge iron at close to USD 378/MT, CFR.
Wire rod Import -- Wire rod (5.5 mm) was recently imported at USD 620/MT CFR from China and last week it was registered at USD 635/MT CFR (5.5 mm) from Indonesia, as per trade participants.
