A new bulk scrap cargo has been booked to Bangladesh recently, indicating a gradual price increase. Moreover, prices for containerized scrap have also moved up further amid lower availability of containers, in particular.
A total tonnage of 32,000 mt of ex-US HMS I/II 80:20, shredded scrap and P&S has been sold at the average price of $321/mt CFR. In the middle of October, the tradable price level was at $310-315/mt CFR for ex-US HMS I/II 80:20. At the moment, offers for this grade scrap are coming to Bangladesh at around $320/mt CFR. The main reasons behind the uptrend are higher scrap prices in Turkey, the rise in scrap and DRI prices in India, and some limitation of supply.
In the containerized scrap segment, HMS I/II 80:20 can be traded at $315/mt CFR, up from $310-315/mt CFR last week. Bids for HMS I have been heard at $318/mt CFR, with bids for P&S heard at $325/mt CFR. Shredded scrap from New Zealand has been on offer at slightly above $325/mt CFR, while tbuyers’ price idea has been at $320/mt CFR.