Bangladeshi scrap importers have been showing minimal interest in bookings amid the holiday lull and low demand conditions this week. Import scrap offers, however, have continued to increase in Bangladesh, as suppliers have been bullish due to the global price rises.
Accordingly, import offers for ex-UK shredded scrap in containers have been voiced at around $505-520/mt CFR, up by $15-20/mt over the past week. According to market insiders, a few small deals have been reported at $505/mt CFR, but this information was not confirmed by the time of publication. Meanwhile, offers for ex-UK/EU HMS grade scrap have been heard at $470-475/mt CFR, up by $20/mt week on week.
In the bulk segment, offers for ex-US shredded scrap have been reported at $450/mt CFR, while bonus scrap offers have settled at $460/mt CFR. Though, Bangladeshi customers have been refraining from new purchases and have not announced any bids so far “waiting for Turkey’s next movement this week,” according to market insiders.