Trade activity in the import scrap market in Bangladesh has remained moderate with most deals heard for containerized scrap at relatively stable levels as compared to last week. As for the bulk segment, most offers have remained unchanged though, according to sources, Bangladesh is likely to book new volumes in bulk in next two to three weeks, while the sector has been facing tight foreign currency supply and more restrictions from the government. Thus, Bangladeshi mills are focusing on pending letters of credits (LC) even though they have been facing too many restrictions for previous orders.
More specifically, in the containerized segment, several deals for ex-Australia HMS I/II 80:20 scrap have been reported at $425/mt CFR, the same as last week, while by the end of the week most bids have been voiced at $415/mt CFR. Offers for shredded scrap from Australia and New Zealand have remained at $435-440/mt CFR, while offers for ex-Malaysia and ex-UK busheling scrap have been heard at $465/mt CFR.
Meanwhile, the latest deal for around 9,000 mt of ex-Singapore scrap in bulk has been reported at $425/mt CFR for HMS I/II 80:20, at $440/mt CFR for shredded scrap and at $445/mt CFR for busheling. Offers for ex-UK HMS grade scrap have been maintained at $430/mt CFR, the same as last week, but, according to sources, prices are expected to decrease by at least $10/mt in the next round of bookings.