As a result of the recent rise in fuel and energy prices, mild steel (MS) rod prices may soon surpass Tk 1 lakh per tonne, according to industry insiders. The majority of the scrap steel used is imported—roughly 90%. Thus, rising US dollar exchange rates and recent increases in fuel and energy prices have caused a rise in production costs.
According to data from the Trading Corporation of Bangladesh, a 60-grade MS rod was sold in Dhaka yesterday for Tk 95,500 per tonne, up from Tk 91,500 for the same quantity just one month earlier. Additionally, they are having trouble opening LCs, which is hurting business
Depending on the factory, the production costs of steel-making units will rise by a maximum of Tk 1,500 to 3,000 per tonne. Steel billet production costs are currently Tk 81,300 per tonne, with Tk 20,000 going toward operational expenses and Tk 2,200 going toward duties and advance income tax.
Source for more details: