No significant fall in iron prices despite decline in int'l markets
Monday, 17 November 2008
Our Correspondent
CHITTAGONG, Nov 16: Prices of iron products did not register any significant fall in the markets of the district despite decline of iron price in both international and local markets.
There is no scarcity of the raw materials for manufacturing iron goods and the ship breaking yards are also filled with iron scraps.
On the backdrop of low price of raw materials of steel products, the consumers are yet to receive any significant benefit. They are still compelled to buy different iron products at exorbitant prices.
A section of re-rolling mill owners and retail businessmen are controlling the market of the iron goods.
40 graded rod is being sold at the price ranging from Tk 43,000 to 44,000 per tonne and 60 graded rod sold at Tk 62,000 per tonne.
However, Chittagong Steel Re-rolling Mills Owners' Association sources denied the allegation of making abnormal profit through resorting to any evil practice.
Retail traders told this correspondent that as they had to buy the iron goods at the enhanced rate, they are compelled to sell those at a very marginal profit.
CHITTAGONG, Nov 16: Prices of iron products did not register any significant fall in the markets of the district despite decline of iron price in both international and local markets.
There is no scarcity of the raw materials for manufacturing iron goods and the ship breaking yards are also filled with iron scraps.
On the backdrop of low price of raw materials of steel products, the consumers are yet to receive any significant benefit. They are still compelled to buy different iron products at exorbitant prices.
A section of re-rolling mill owners and retail businessmen are controlling the market of the iron goods.
40 graded rod is being sold at the price ranging from Tk 43,000 to 44,000 per tonne and 60 graded rod sold at Tk 62,000 per tonne.
However, Chittagong Steel Re-rolling Mills Owners' Association sources denied the allegation of making abnormal profit through resorting to any evil practice.
Retail traders told this correspondent that as they had to buy the iron goods at the enhanced rate, they are compelled to sell those at a very marginal profit.