On August 8, SteelOrbis reported that scrap prices to Bangladesh from the UK and EU trended down to $360-370/mt for containerized shredded scrap.
Sources inform SteelOrbis that ex-UK and ex-EU offer prices for containerized shredded scrap have declined in line with the global trend through August and offers are presently around $350-355/mt CFR. The prices declined $10/mt from the bottom of the previous range and $15/mt from the top of the same range. A source added that “offer prices converged tightly around $350/mt to motivate buyers as Turkish mill scrap buys declined and added to the market uncertainty.” A separate source also noted that the last Turkey scrap buy from the US and overall high demand for scrap around the world including scrap price increases through the past week in Japan and China are “keeping offers tight pending further market information over the next week.”