Bangladesh: Rebar Prices Remain Stable Despite Sluggish Demand

Local rebar prices in Bangladesh observed stability, as per SteelMint's weekly assessment. Meanwhile to boost sales, the mills are providing trade discounts, as reported by participants.

As per assessment, currently local rebar prices in Dhaka, Bangladesh by medium-scale mills is hovering around BDT 55,500-56,000/MT (USD 662-668), unchanged against last week offers.

Similarly, the large scale manufacturers have kept their rebar prices unchanged amid average demand. The latest rebar offers by the producers stated at around BDT 66,000/MT (USD 789). The prices mentioned above for 8 to 32 mm, ex-works & including local taxes.

As per sources, the manufacturers are offering discounts as per booking quantity to boost trade volumes and discount range reported is around BDT 1,000-1,100/MT (USD 12-13).

Further, the domestic Billet prices in Dhaka were reported more or less firm and are currently traded at around BDT 49,500-50,000/MT (USD 591-597/MT).

Scrap prices -- Domestic melting scrap (HMS) reported at BDT 35,200-35,300/MT (USD 420-421) Ex- woks, Chittagong and for Dhaka BDT 1,600-1,700/MT freight charges to be added.

Sponge iron import offers -- Indian sponge iron export offers to Bangladesh remain firm and are assessed at USD 355/MT, CFR Chittagong. The mills have booked during last week at an average price of USD 350-353/MT CFR, as per Indian exporters.