Although financial constraints have continued to subdue Bangladeshi scrap market, more deals have been reported for containerized scrap in the country this week as local rebar mills have been focusing on restocking with prices falling sharply in new deals. In the bulk segment trade has been slower this week, however, according to sources, more negotiations have been heard this week, with buyers pushing for additional discounts.
More specifically, following several bookings done at the beginning of this week for around 2,000 mt in total for ex-Australia shredded scrap in containers at $420-422/mt CFR, against $425/mt CFR last week, new offers have dropped to $415/mt CFR by the end of the week. Meanwhile, ex-EU/UK offers for shredded scrap have been estimated at $415-420/mt CFR, against $430-435/mt CFR last week. Furthermore, new deals for 5,000 mt of ex-Australia HMS grade scrap in containers have been reported at $400/mt CFR this week, against offers at $410/mt CFR last week.
Besides, offers for ex-Australia PNS scrap have been reported at $420/mt CFR, down by $15-20/mt week on week, while offers for Hong Kong and Singapore origin have been voiced at slightly higher levels, $430-435/mt CFR.
In the meantime, offers for ex-US shredded scrap in bulk have been heard at $405-410/mt CFR, down by $15-20/mt week on week, while according to sources, buyers are negotiating at $400/mt CFR level.