A recent sharp increase in Bangladeshi long steel prices has provided some much-needed respite to mill margins at a time of soaring import scrap costs, sources told Fastmarkets on Thursday December 10.
Prices for Bangladeshi domestic rebar had been marooned at 55,000-55,500 taka ($638-643) per tonne since September, but prices were heard 5,500-6,000-per-tonne higher at 61,000 taka per tonne on Thursday following a number of offer rises."There was a price rise of 4,000-4,500 taka per tonne for rebar but then the market slowed down and steel dealers have high stocks now because retail demand is down," an exporter...