Despite a drop of around Tk10,000 per tonne in scrap prices over the past three months, top-grade mild steel (MS) rod prices in Bangladesh remain steady at Tk96,000-1,00,500 per tonne in August 2023. The local market price for scraps, a key material for rod production, currently stands at Tk60,000 per tonne, compared to Tk71,000 two months ago. However, factors like a strong dollar exchange rate and reduced demand for construction have kept MS rod prices high. Although production costs could be lowered due to falling raw material prices, rod manufacturers remain constrained by the rising dollar rate. Reduced demand and sales have also led to a decrease in rod production.
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