Price of mild steel (MS) rod rose sharply over the last couple of weeks across the country. Market sources said the prices increased due to price-hike of scrap rod in the international market, depreciation of Taka, erratic power supply and gas supply at the re-rolling plants.
On an average the price of this vital component of building construction has increased by Tk 5000 per tonne over the period. "We are apprehending further rise of the products in the coming days," says a trader at Kawran Bazar.
Retailers said they are selling plain MS rod at Tk 44,000 per tonne against Tk 39,000 per tonne earlier.
Retailers said the prices of deformed MS rod had also recorded a sharp rise. The prices of plate bar are up - at Tk 38,500 per tonne now against Tk 37,000 per tonne earlier.
The soaring price of MS rod price is set to affect the country's construction sector and other rod-based small units.In many city areas works of under construction buildings have been stopped . some have slowed down the process. Real estate developers predicted the price hike of MS rod would also raise the prices of apartments which will affect the growth of the apartment business.
When this is the situation, it is alleged a section of manufacturers are taking advantage of the situation by producing low quality rod with low prices.