Trade activity in the import scrap market in Bangladesh has been moderate this week, with most offers for scrap both in containers and in bulk remaining relatively stable, though with a downward bias in some offers.
Notably, following a long pause in scrap purchases in bulk, a deal for 32,000 mt of ex-US scrap has been reported at $400/mt CFR for HMS grade, $405/mt CFR for shredded, and at $410/mt CFR for bonus scrap. This mean the deal prices have remained the same as last week, while, according to most sources, there are not so many offers from the US at the moment.
In the containerized segment, most offers have been maintained at the same levels as last week but with a downward bias in some offers. Particularly, offers for ex-Australia and ex-EU shredded scrap have been estimated at $415/mt CFR, against $420/mt CFR last week, while offers for HMS I/II 80:20 have been heard at $400/mt CFR, the same as last week. “The situation regarding letters of credit (LCs) has improved in Bangladesh, but trade has remained moderate these days, many customers are looking for bulk scrap from Australia instead of containerized scrap as the prices are almost the same,” a market insider told SteelOrbis.
According to sources, several deals have been reported for PNS scrap in containers, for ex-Brazil PNS scrap at $430/mt CFR and for ex-Hong Kong materials at around $435/mt CFR, respectively.