Although the general demand for finished steel has remained slow in Bangladesh this week due to Ramadan, trade activity in the import scrap market has remained moderate, with most offers for scrap in containers and in bulk remaining relatively stable, though with an upward bias in some offers.
Specifically, in the containerized segment, most offers for ex-EU/UK shredded scrap have been maintained at $415-420/mt CFR, while offers for HMS grade scrap have been estimated at $400/mt CFR. Besides, offers for ex-Brazil PNS scrap have been reported at $425/mt CFR, while a deal for ex-Hong Kong PNS scrap have been heard at $432/mt CFR, up by $2/mt week on week.
“Bangladeshi buyers have managed to book at least 5,000-7,000 mt in total of containerized scrap for different grades and origins at mainly the same price levels as a week ago,” a local trader told SteelOrbis.
In the bulk segment, indicative offers for ex-US shredded scrap have been heard at $405-410/mt CFR, up by $5/mt on the higher end of the range week on week. Offers for ex-US HMS grade scrap have been assessed at $390-395/mt CFR, the same as last week, while bids have been heard at $385/mt CFR level.
“We heard there were some bookings in bulk for ex-Singapore HMS grade scrap for around 8,000 mt and even for ex-Japan H2 scrap for around 20,000 mt, but the deal prices have not been disclosed so far,” a Bangladeshi trader told SteelOrbis.