BANGLADESH STEEL SCRAP: Local steel price rise aids mill margins

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.
"From November 25 to now, there was a large increase in the local steel market, which is good news for mills given that import scrap prices shot up $50-60 per tonne in this period," a Bangladeshi steelmaker source said.
"In the last two days, there has been no further increase to steel prices and the market is now stable but international scrap prices are climbing up more," he added.

"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...

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