October 12, 2008

Bangladesh puts a cap on rebar prices

It is reported that, during a meeting at Chittagong between businessmen and the government officials, prices of different categories of steel including rebars and scrap have been re fixed at a reasonable levels by Bangladesh government for curbing steep price hikes.

1. Grade 60 rebars - BDT 62,000 per tonne from BDT 74,000 per tonne
2. Grade 40 rebars - BDT 58,000 to BDT 60,000 per tonne from present price BDT 70,000 per tonne
3. Scrap - BDT 50,000 from the present prices of BDT 53,000 to BDT 55,000

The steel sector has been asked to follow the re fixed price structure up to June 2009 and they were assured of reviewing the rate after the dateline.

Mr Mohammed Masud Hossain called upon the businessmen to extend their hand to the government in implementing the almost shelved development schemes of the country under current fiscal and said it is responsibility of every citizen to supplement the government’s all positive efforts. He assured the owners of re rolling mills and scrapped ship breaking yards of solving their problems including gas and electricity crisis through conveying the matter to the higher authorities.