Import scrap activity in Bangladesh remains muted ahead of elections, prices mainly stable

Friday, 05 January 2024 15:13:58 (GMT+3)   |   Istanbul
       

Import scrap activity in Bangladesh has remained almost close to zero as the local market has continued to be depressed ahead of the elections this weekend, while European suppliers are still inactive due to winter holidays.

More specifically, the indicative offers for ex-Australia shredded scrap in containers have been voiced at $435/mt CFR, the same as last week, while the tradable level is still estimated at around $430/mt and slightly above. At the same time, while no fresh deals have been heard for shredded scrap, market insiders have reported a few deals for around 5,000-7,000 mt in total for ex-Middle East HMS I/II 80:20 scrap signed at $425-430/mt CFR. Though no official confirmation has been provided by the time of publication. Offers for ex-Asian PNS scrap are unchanged at around $445/mt CFR.

Meanwhile, no business activity has been reported in the bulk segment either, with indicative offers for ex-US shredded scrap standing at around $430-435/mt CFR, the same as last week.  

“The market has remained sluggish in Bangladesh and customers have a wait-and-see attitude ahead of the elections on January 7,” a market insider said.


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