Trade activity in the import scrap market in Bangladesh has remained limited this week given that most buyers have been affected by the dollar crisis and difficulties in opening letters of credits (LCs). Meanwhile, most offers for scrap both in containers and in bulk have remained stable, though with a downward bias in some offers for ex-EU containerized scrap in particular.
More specifically, offers for ex-EU shredded scrap in containers have been voiced at $440/mt CFR, down by $5/mt on the higher end of the range over the past week, with no new deals reported so far. However, several deals for around 3,000 mt in total for ex-Australia shredded scrap have been heard at $435/mt CFR, the same as last week. Besides, more deals for ex-Australia HMS I/II 80:20 scrap have been signed at around $425/mt CFR, according to sources. Furthermore, a deal for ex-Malaysia PNS scrap are reported to have been signed at $445/mt CFR, versus $440-445/mt CFR last week.
In the bulk segment, trade has continued to be weak, with indicative offers for ex-US HMS I/II 80:20 scrap standing at $425-435/mt CFR, the same as last week, while prices for ex-Japan H2 have been assessed at around $430/mt CFR, following a deal for 15,000 mt signed last week through the Kanto export tender at approximately JPY 53,081/mt ($362/mt) FAS, which translated to around $430-435/mt CFR.