Import scrap prices in Bangladesh move slightly down, trade limited ahead of elections

Friday, 22 December 2023 17:05:28 (GMT+3)   |   Istanbul
       

Import scrap prices have started to show some weakening this week, along with the recent drops in Pakistan and India, as most suppliers, especially those from Europe were inactive amid weather conditions for scrap collection and shipping difficulties across major regions. At the same time, trade activity in the import scrap segment has been lacking strength due to anticipated elections in Bangladesh at the beginning of January 2024.

More specifically, in the containerized segment, offers for ex-UK/EU shredded scrap have been voiced at $435-440/mt CFR, against $440-445/mt CFR last week, with a few small deals for ex-UK scrap reportedly done at around $430/mt CFR, according to sources. Besides, offers for HMS I/II 80:20 have dropped by $10/mt week on week to $415/mt CFR. Offers for PNS scrap from Hong Kong have been still voiced at $445-450/mt CFR, though bids were reported at around $440/mt CFR level.

In the bulk segment, a deal for around 8,000 mt of ex-Singapore HMS grade scrap has been reported at $430/mt CFR, done last week. No fresh deals for ex-US scrap have been heard in Bangladesh this week, with the indicative offers for shredded scrap standing at $430/mt CFR level, down by around $5/mt week on week.

“Trade has been stopped in anticipation of elections, and we expect that business activity is unlikely to revive before mid-January,” a Bangladeshi trader told SteelOrbis.


Similar articles

US scrap markets seen sideways for December following recent strong November settles

22 Nov | Scrap & Raw Materials

Turkey’s deep sea scrap prices continue their sharp fall

21 Nov | Scrap & Raw Materials

Carbon and stainless scrap prices in Taiwanese domestic market - week 47, 2024

21 Nov | Scrap & Raw Materials

Import scrap prices decline in Bangladesh, more decreases expected

21 Nov | Scrap & Raw Materials

Turkey’s import scrap market takes a dive

20 Nov | Scrap & Raw Materials

Import scrap prices down in Pakistan, trade hit by low demand and smog

20 Nov | Scrap & Raw Materials

Local Chinese scrap prices still post only small changes, but negative bias persists

20 Nov | Scrap & Raw Materials

Russia may extend quotas on scrap exports outside EAEU to end of 2025

20 Nov | Steel News

Import scrap prices in India soften amid higher local raw material and finished steel stocks

20 Nov | Scrap & Raw Materials

November US Northeast scrap prices settle mixed versus October amid steady export scrap demand and limited mill buying

20 Nov | Scrap & Raw Materials