Trade activity in the import scrap market in Bangladesh has remained moderate, with most deals heard for containerized scrap at slightly higher levels as compared to last week following the global price recovery. As for bulk scrap, most offers have shown a slight rebound as well, with no fresh deals reported so far though.
Bangladeshi importers have continued to face problems with obtaining letters of credit (LCs), while most Bangladeshi steel mills are operating at less than 50 percent capacity, though this information has not been officially disclosed by the producers. Thus, trade has remained limited this week. According to sources, several batches of around 2,000 in total of ex-EU shredded scrap in containers have been transacted at $416/mt CFR this week. Besides, another deal for ex-Australia shredded scrap has been reported at $415/mt CFR. The deal prices have gained $5/mt over the past week, while new offers have been heard at $420/mt CFR, up by $5/mt on the lower end of the range over the past week.
Furthermore, at least two deals for PNS scrap in containers have been voiced for ex-EU and ex-Brazil scrap at $430/mt CFR and at $420/mt CFR, respectively, while new offers for ex-UK/ex-Australia PNS scrap have been reported at $425/mt CFR.
At the same time, offers for HMS I/II 80:20 scrap in containers have been voiced at $400-405/mt CFR, up by $5-10/mt week on week, with a deal for ex-Brazil material is reported to have been signed at $405/mt CFR this week, according to sources.
As for the bulk segment, no new deals have been reported so far, while offers for ex-US HMS grade and shredded scrap have increased by $5/mt week on week to $400/mt CFR and $405/mt CFR, respectively. Besides, offers for ex-Japan H2 scrap in bulk have settled at $400/mt CFR and at $420/mt CFR for HS grade.