The import scrap market in Bangladesh has remained in wait-and-see mode this week following the break for the Eid holiday. At the same time, offers for containerized scrap have increased from most suppliers this week, while no major inquiries in bulk have been reported so far.
Specifically, in the containerized segment, offers for ex-EU/UK shredded scrap have settled at around $430/mt CFR, up by $10/mt over the past two weeks, while offers for ex-Australia shredded scrap have settled at around $425/mt CFR, against $420/mt CFR before the holiday.
Furthermore, offers for ex-EU/UK HMS I/II 80:20 scrap have been voiced at $410/mt CFR, up by $5-10/mt over the past two weeks, with a deal for around 1,000 mt of ex-UK HMS grade scrap signed at $410/mt CFR this week. Meanwhile, a few deals for small tonnages of ex-Australia HMS grade scrap have been reported at $405/mt CFR, against $400/mt CFR before the holiday.
Offers for ex-Asia PNS scrap have been estimated at $435/mt CFR, mainly at the same level as two weeks ago.
In the meantime, trade activity in the bulk segment has been weak, with offers for ex-US HMS grade scrap heard at $400/mt CFR, the same as two weeks ago.
In the local market, sources reported that the private sector has also continued to see low demand with no major public projects, which kept domestic rebar prices at low levels, at around BDT 94,000-94,500/mt ($857-861/mt) ex-works Chittagong and at BDT 88,000-89,000/mt ($802-811/mt) ex-works for Dhaka.
$1 = BDT 109.72