Muted activity in Bangladesh’s import scrap market, prices relatively stable

Friday, 23 February 2024 16:13:19 (GMT+3)   |   Istanbul
       

Trade activity in the Import scrap market in Bangladesh has been rather slow this week, as buyers have been reporting yet further letter of credit (LC) problems, with most import offers remaining relatively unchanged over the past week.

Accordingly, while no trade activity has been reported in the bulk segment, business has also slowed down in the containerized segment, with most offers heard mainly at stable levels. Offers for ex-EU HMS I/II 80:20 scrap have been voiced at $410-415/mt CFR, the same as last week. Meanwhile, several deals for ex-Australia HMS I/II 80:20 scrap for around 2,000 mt in total have been heard at $410-412/mt CFR.

Furthermore, offers for shredded scrap in containers from Europe have been estimated at $435/mt CFR, the same as last week. According to sources, a deal for ex-Hong Kong PNS scrap has been reported at $445/mt CFR.

In the local market, rebar prices have been estimated at BDT 85,000-94,000/mt ($774-856/t) ex-works in Dhaka and Chattogram (Chittagong), respectively, while local prices for PNS scrap have been heard at BDT 67,000-68,000/mt ($610-620/mt) ex-warehouse.

$1 = BDT 109.75


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