New deals for deep sea ex-US scrap to Bangladesh have been done with a $12.5/mt increase compared to the contract price level seen last week. This was in line with market sources’ expectations, taking into account current demand and the bullish moods of suppliers.
A 32,000 mt cargo of ex-US scrap has been sold recently, of which 8,000 mt of HMS I/II 80:20 was sold at $307.5/mt CFR, 17,000 mt of shredded scrap at $312.5/mt CFR and 7,000 mt of busheling at $322.5/mt CFR. Another buyer purchased a cargo for the same volume of HMS I/II 80:20 and shredded scrap at the average price of $310/mt CFR. In the previous contract reported last week, HMS I/II 80:20 scrap was sold at $295/mt CFR, while shredded was transacted at $300/mt CFR.
Demand for containerized scrap has also persisted. Lots of 1,000 mt each of HMS I from Australia and neighbouring countries have been sold at $298/mt CFR to Bangladesh. Offers for the same grade from the UK have been at $305-310/mt CFR, with offers from South America at $300/mt CFR.
