The price of mild steel (MS) rod has crossed Tk 1 lakh per tonne in Bangladesh as the production costs have surged due to the hike in fuel and energy prices and the higher US dollar rate, industry people said.

However, the Trading Corporation of Bangladesh showed that the price of 60-grade MS rod fell to Tk 92,500 per tonne on Tuesday from Tk 95,500 on Monday.

According to Shahriar Jahan Rahat, deputy managing director of KSRM, they are selling rod at Tk 97,000 per tonne at mill gate.

Once other costs such as transportation, loading and unloading are added to the mill gate price, the retail price will cross Tk 1 lakh per tonne at the consumer level.

BSRM, the market leader, is selling the rod Tk 98,500 per tonne at the mill gate.

According to manufacturers, the production cost of the 60-grade rod has climbed to Tk 103,560 per tonne. So, they have decided to adjust the price.

Rahat said despite the price increase, there is no visible impact on sales as consumers are purchasing the rod since they understand the situation.