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The annual demand for wire rod in the country is more than 5.5 million tons. As four and a half to five tons of rods are required per month, the demand is even higher in the dry season. It is estimated that if the average increase of Rs 12-13 lakhs per ton increases, the additional customer spending per month will be more than Rs.550.
Alamgir Shamsul Alamin, president of Rehab, an association of real estate dealers, told Prothom Alo: “The construction cost of our project is going up because the price of the rebar has risen abnormally. But at this moment in Corona we will not be able to raise the price of the apartments. Everyone will benefit if the government cuts tariffs on raw material imports for the time being to control the market.
There are 42 automatic steel mills in the country. There are less than 100 traditional factories. In the steel sector, annual sales of all types of manufactured products, including rebar, amount to Tk 45,000 crore. The steel industry is the most commercialized sector in the country.
Sheikh Masadul Alam, former president of the Bangladesh Steel Manufacturers Association, told Prothom Alo that the price of raw materials on the international market has risen since 2008, when China started importing scrap. Boat rentals are also being overcharged. In winter, the price of rebar increases from Rs 5,000 to Rs 6,000 during the construction season. Stating that the current price is normal, he said that once the raw material purchased at বাড় 450 or more reaches the country, there will be no choice but to increase the price of the rod.
However, SM Khorshed Alam, president of the Bangladesh Construction Industries Association, an association of contractors involved in the construction of government development projects, did not want to call the current price of rebar normal. He said that a price increase of 25 to 30 percent could not be normal. The cost of the project has already increased by 7-8 percent due to the rebar.
