The import scrap market in Bangladesh has remained muted this week with still very poor demand and concerns over shipments from Europe due to the Red Sea crisis. Only some decline has been seen for HMS scrap prices, while shredded offers are still stable in the absence of buyers.
The indicative price level for ex-Australia shredded scrap in containers is at $430-435/mt CFR, just down slightly from $435/mt CFR last week. But no deals have been reported and even no bids at $430/mt CFR have been seen like earlier this month. Offers for ex-Asian PNS scrap are stable at $445/mt CFR.
At the same time, offers for HMS I/II 80:20 scrap in containers have declined to $415-420/mt CFR, down by $10/mt over the past week. The tradable level is at $410-415/mt CFR and market sources said that buyers’ preference will still be for ex-Middle East material, to avoid difficulties in transportation from Europe.
The bulk scrap market is still inactive as the tradable level for ex-US shredded scrap is not below $420/mt CFR, versus offers last week at $430-435/mt CFR.