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Steel Consumption in Bangladesh: Steel consumption in Bangladesh is projected to rise by 25 percent to around 1.06 crore tonnes in 2027 from 85 lakh tonnes in 2024 thanks to growing infrastructure development projects and individual consumption, according to Bigmint. ....
Steel prices in Bangladesh have been on an upward curve as millers hiked the rates in the wake of continuous spiralling of scrap metals in the international market owing to a pickup in demand and constrained supplies. ....
Steel prices unlikely to cool off despite source tax cut The cut in source tax in the proposed budget may not bring down the price of steel, meaning the cost of infrastructure and construction projects is unlikely to decline, manufacturers say. In the budget for the next fiscal year, Finance Minister AHM Mustafa Kamal has proposed to reduce the tax deducted at source on the supply of iron and iron products from 3 per cent to 2 per cent. Steel prices jumped 34 per cent in the last year as millers were compelled to hike the rates in the wake of spiralling scrap prices in the global market, making the construction of public projects and home building costlier. ....
Construction set to be costlier as rod prices soar Steel prices jumped 17 per cent in the last one month as millers hiked the rates in the wake of spiralling scrap prices in the international market, which will make the implementation of public construction projects and home building costlier. The retail price of 60-grade MS (mild-steel) rod rose to Tk 64,000 per tonne, up from Tk 54,000 a month ago and Tk 61,500 during the corresponding period last year, data from state-run Trading Corporation of Bangladesh showed. The price of steel scrap increased by $100 per tonne in international markets recently, said Manwar Hossain, president of the Bangladesh Steel Mill Owners Association. ....