Bangladeshi rebar producers seek to adapt to increasing scrap prices

Monday, 25 October 2021 16:00:25 (GMT+3)   |   Istanbul

Having no other option but to accept higher prices for feedstock from global scrap suppliers, Bangladeshi rebar producers have decided to partly pass on their increased input costs to customers. Specifically, last week the major rebar mills based in Bangladesh raised their rebar offers by BDT 1,500-2,000/mt ($18-23/mt). In particular, local 10-16 mm rebar in Chittagong is offered at BDT 72,000-74,500/mt ($841-871/mt) ex-works, while in Dhaka it is available at BDT 70,000/mt ($818/mt) ex-works. “Rebar prices in Bangladesh are increasing, but too slowly compared to the surge in scrap prices,” the representative of a Bangladesh-based rebar mill commented. 

Accordingly, last week offers for shredded scrap in containers to Bangladesh were heard at $570-585/mt CFR, up $10-20/mt week on week. Likewise, containerized HMS I/II 80:20 scrap prices have increased to $545-555/mt CFR, up $10-20/mt over the past week. 

In the bulk segment, rare offers for HMS I/II 80:20 scrap have been voiced at $585-590/mt CFR, up $15-20/mt within the past week, with some suppliers even having started to test the market with offers above $600/mt CFR. 

$1 = BDT 85.57

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