Trade activity in the import scrap market in Bangladesh has remained moderate, while most new offers heard for containerized scrap have decreased slightly and consequently new deal prices are down slightly as well. As for the bulk segment, although offers have decreased by around $10/mt week on week, Bangladeshi buyers have preferred to avoid business expecting more declines in the short run.
More specifically, following a deal for ex-Australia HMS I/II 80:20 scrap at $417/mt CFR last week, this week a new deal has been signed at $415/mt CFR, while by the end of the week buyers’ bids have dropped to $405/mt CFR level. Besides, another deal for HMS I/II 80:20 scrap but of US origin has been signed at $410/mt CFR Bangladesh this week, down by $5-10/mt week on week.
Meanwhile, offers for shredded scrap in containers have been heard at $430-435/mt CFR, down by $5/mt week on week. According to sources, following several deals for at least 5,000 mt of ex-Australia shredded scrap at $430-435/mt CFR at the beginning of this week, most offers have dropped to $430/mt CFR by Thursday, February 15, down by $5-10/mt over the past week. At the same time, another deal for ex-EU shredded scrap has been reported at $435/mt CFR.
Furthermore, more deals are reported to have been done for PNS scrap in containers at $440-443/mt CFR for ex-Australia, at $446/mt CFR for ex-Singapore and at $448/mt CFR for Hong Kong origin. Thus, prices have decreased by at least $5/mt over the past week.
In the bulk segment, trade activity has been silent this week, with indicative offers for ex-US scrap standing at $415/mt CFR for HMS grade, at $420/mt CFR for shredded and at $425/mt CFR for bonus, down by $10/mt week on week.