Bangladesh: Rebar Prices Remain Constant Amid Stable Demand

Rebar demand remained constant in domestic market of Bangladesh amid average supply movement, as per SteelMint's weekly assessment.

As per assessment, currently the local rebar prices in Dhaka, Bangladesh by medium-scale mills is hovering around BDT 56,500-57,000/MT (USD 673-679) for 500W, vary as per medium scale manufacturers and brands which is more or less hovering to same price range.

Similarly, the large scale manufacturers have kept their rebar prices unchanged amid moderate demand. The latest rebar offers by the producers stated at around BDT 65,000-66,000/MT (USD 775-787). The prices mentioned above for 8 to 32 mm, ex-works & including local taxes.

Further, the local Billet prices in Dhaka, Bangladesh reported to be firm and the trades are taking place at around BDT 49,000- 49,500/MT (USD 584-590/MT).

Scrap: Local Ship Breaking Scrap prices in Bangladesh is hovering around BDT 43,000/MT and general dry cargo reported at USD 442-443/LDT.

Further imported scrap offers for containerize material assessed at USD 370-375/MT for Shredded & USD 360-362/MT for HMS, CFR Chittaong.

As per vessel line up data maintained by SteelMint, Bangladesh has imported 3 bulk vessels of scrap in Oct'18, in which 2 vessels are from USA and 1 from Japan, with total quantity of 88,000 MT.

Sponge iron import offers -- Indian sponge iron export offers to Bangladesh remain firm and are assessed at USD 360/MT, CFR Chittagong. Imported Wire Rod offers for 5.5mm reported at around USD 630-635/MT CFR, Origin - China.