After a two-month downward trend, prices of mild-steel rod, a vital construction material, have soared again, rising roughly Tk2,000 per tonne in the previous two days.Traders claim the price increase came as a result of the government’s announcement in the next budget that it plans to put regulated tariffs on iron ore imports.In the steel market, the price of 75 grade (500 TMT) rod has risen by up to Tk2,000 a tonne in the last two days. A 75 grade rod is currently being sold at rates ranging from Tk83,500 to Tk87,500 across brands, with prices ranging from Tk82,500 to 85,000 two days ago. The price of 60 grade MS rod varies between brands and ranges from Tk80,000 to Tk83,000.Prices of 60 grade rod manufactured in Semi-Auto Mills have also risen by Tk2,000, with tonne prices now ranging from Tk77,000 to Tk78,000.Furthermore, the cost of steel-making raw materials such as billets, plates, and scrap has increased by Tk2,000-4,000 per tonne. Scrap is currently selling for Tk58,000 per tonne, plate for Tk67,500, and billet for Tk72,000 per tonne, up from Tk56,500, Tk63,500, and Tk71,000 two days ago.
