Bangladeshi scrap importers have continued to focus on containerized scrap, signing numerous deals with different suppliers this week. In most of the deals, market participants reported the same prices as last week. Meanwhile, the bulk scrap segment has still been quiet despite the lower offers announced for Bangladeshi customers.
Accordingly, several cargoes for ex-UK shredded scrap in containers have been reportedly sold at $665-670/mt CFR this week, while offers for ex-UK materials have been voiced at $670-680/mt CFR, the same as last week. Besides, suppliers from Malaysia and Singapore have sold around 8,000-10,000 mt of PNS scrap at $670-675/mt CFR, up by $10/mt over the past week, though most customers are still bidding at $660/mt CFR, according to market participants. Offers for ex-Malaysia bushelling scrap have also been voiced at $670-675/mt CFR.
Furthermore, offers for ex-Brazil HMS I/II 80:20 scrap have been reported at $620-650/mt CFR, while ex-Brazil HMS I/II 90:10 offers have been voiced at $625/mt CFR the same as last week.
At the same time, no bookings have been heard in the bulk scrap segment. However, according to Bangladeshi customers, offers from US sellers for HMS I/II 80:20 scrap by bulk have dropped by around $20/mt week on week to $680/mt CFR. “Buyers are bidding at $670/mt CFR, but have not yet made any deal,” a market source told SteelOrbis.
In the meantime, the 10-16 mm rebar price in Bangladesh has dropped slightly this week and is available at around BDT 85,000-87,600/mt ($990-1,020/mt) ex-warehouse, but, according to market insiders, deals are still very rare due to slow demand in the construction sector and the market will remain quiet for the next 15-20 days due to Ramadan.