This week trade activity has improved to some extent in Bangladesh with more deals signed for containerized scrap at mainly the same prices as reported last week. In the bulk segment, more inquiries have been reported, which have resulted in more negotiations and consequently occasional deals.
Specifically, in the containerized segment, several deals for ex-EU/UK shredded scrap have been signed at $430-431/mt CFR, the same as last week. Besides, following offers for ex-Australia shredded scrap at $425/mt CFR last week, this week a few deals for small quantities are reported to have been signed at $425/mt CFR. Furthermore, a parcel for 500 mt of ex-Malaysia shredded scrap is reported to have been booked at $430/mt CFR.
Furthermore, deal prices for ex-EU/UK HMS I/II 80:20 scrap in containers have been assessed at $408-410/mt CFR, against $410/mt CFR last week. Besides, according to sources, a deal for ex-Canada HMS I scrap has been reported at $405/mt CFR this week.
At the same time, while offers for ex-Malaysia PNS scrap have been estimated at $435/mt CFR, offers for ex-Hong Kong PNS scrap have been heard at $440/mt CFR.
According to sources, offers for ex-UAE HMS/PNS scrap have been voiced at $430/mt CFR this week.
In the bulk segment, a deal for ex-US scrap has been confirmed at $403/mt CFR for 13,000 mt of HMS I/II 90:10 and at $414/mt CFR for 14,000 mt of PNS scrap. According to sources, offers for ex-US HMS grade scrap have been assessed at $405/mt CFR, mainly the same as last week.
In the local market, offers for domestic rebar have been voiced at BDT 92,000/mt ($838/mt) ex-works Chittagong, down by around BDT 2,000/mt ($18/mt) week on week, and at BDT 83,000-85,000/mt ($756-775/mt) ex-works in Dhaka. Prices for local scrap equivalent to HMS grade have been reported at BDT 60,000/mt ($547/mt) ex-warehouse and at BDT 62,000/mt ($565/mt) ex-warehouse equivalent to PNS.
$1 = BDT 109.73