Bangladesh: Rebar Offers of Medium Mills Fall over Weak Demand
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The mid sized mills in Bangladesh have sharply reduced Rebar offers this week owing to dull sentiments, as reported by market participants.
SteelMint learned that, local finished steel demand in Bangladesh is quite low and rising inventories have urged medium mills to reduce offers by BDT 1,000-1,500/MT (USD 12-18) as compared to last week in Dhaka.
As per assessment, local Rebar prices in Dhaka, Bangladesh through the mid size mills have reduced to BDT 58,000-58,500/MT (USD 690-696) as against last week at BDT 59,500-60,000/MT (USD 708-714), for 500W. The prices are ex-works, Dhaka, including local taxes & size 8-32 mm.
However the large mills have kept Rebar offers unchanged and reported at BDT 63,500-64,500/MT (USD 756-768), similar against last week offers. The prices are ex-works, including local taxes & size 8-32 mm.
In line with it, domestic Billet in Bangladesh, the mills decreased price range and reported at around BDT 49,500-50,000/MT (USD 589-595), which was BDT 50,500-51,000/MT (USD 601-607) last week, ex-works in Dhaka.
Sponge Iron Import Offers: As per participants report, recently few of bookings made for import of Indian Sponge iron at around USD 330/MT CNF Chittagong, Bangladesh.
| Current Prices (BDT), Ex-work Dhaka, inclusive of taxes | ||
| Particular | 07-Mar'19 | 28-Feb'19 |
| Billet (Ex-Dhaka) | 49,500-50,000 | 50,500-51,000 |
| Rebar (Medium Mills) | 58,000-58,500 | 59,500-60,000 |
Source: SteelMint Research
