Business activity in the import scrap market in Bangladesh has showed some revival this week, as according to sources, buyers’ interest has increased given some easing in approval of letter of credits (LCs) by banks. At the same time, prices for scrap in containers have showed a mixed trend as while some suppliers have been ready to provide discounts, others have maintained their offers stable at high prices.
Specifically, offers for ex-EU shredded scrap in containers have been voiced at $440/mt CFR, the same as last week, however, according to sources, several offers have already been heard at $435/mt CFR. Meanwhile, offers for HMS I/II 80:20 scrap for European origin have been reported at $415-420/mt CFR, the same as last week. According to sources, no deals for ex-EU scrap have been reported so far, however, a deal for ex-Australia HMS I/II 90:10 scrap has been heard at $418/mt CFR. Besides, a few deals for around 1,500-2,000 mt in total of ex-Australia PNS scrap have been signed at $445-450/mt CFR.
In the bulk segment, trade has continued to be sluggish, with the indicative offers for ex-US HMS I/II 80:20 scrap standing at $430/mt CFR, compared to $425-435/mt CFR last week. Meanwhile, prices for ex-Japan H2 scrap have been still assessed at $430/mt CFR.