Given the continuous problems with letter of credit (LC) restrictions this week, Bangladeshi scrap importers have just occasionally signed some new deals mainly to restock, as finished steel demand has remained poor.
More specifically, following a deal for ex-Australia scrap in bulk at $405/mt CFR last week, a new batch of 32,000 mt of HMS grade scrap is reported to have been bought in Bangladesh at $393/mt CFR. Meanwhile, indicative offers for ex-US HMS grade scrap in bulk have remained at $395/mt CFR, the same as last week.
Meanwhile, offers for ex-UK/EU shredded scrap in containers have been voiced at $415-420/mt CFR, the same as last week, though customers’ bids have been heard at $410/mt CFR. Furthermore, several deals for ex-Australia HMS I/II 80:20 scrap have been reported at $395/mt CFR, down by $5/mt over the past week. However, most ex-Australia offers are still voiced at $400/mt CFR.
At the same time, a deal for ex-Malaysia PNS scrap has been heard at $438/mt CFR, while another batch of ex-Hong Kong PNS scrap has been sold in Bangladesh at $430/mt CFR.