Trade activity in the import scrap market in Bangladesh has remained moderate, while most offers heard for containerized scrap have remained stable, but with a downward bias reported in new deals and bids. As for the bulk segment, both buyers and sellers have continued to avoid business this week.
Specifically, offers for ex-EU/UK shredded scrap in containers have been voiced at $430-435/mt CFR, compared to $435/mt CFR last week. Meanwhile, a deal for ex-Australia shredded scrap has been reported at $425/mt CFR, with most offers standing at $425-430/mt CFR, the same as last week. Besides, offers for EU/UK HMS I/II 80:20 scrap have settled at around $410/mt CFR, against $410-415/mt CFR last week, with bids heard at $405/mt CFR.
At the same time, several deals have been reported for PNS scrap in containers this week, with around 2,000-3,000 mt in total booked for ex-Hong Kong and ex-UAE scrap at $445/mt CFR, the same as last week.
No fresh deals have been reported for scrap in bulk, with indicative prices for ex-Japan H2 scrap and ex-US HMS grade scrap heard at $425/mt CFR.
According to sources, Bangladeshi customers have been struggling to open letters of credits (LCs) once again this week, which affected import trade activity a lot, while the recent electricity cost hikes have been another issue facing Bangladeshi steelmakers.