The Bangladeshi containerized scrap import market has continued to remain in a lull during the past week given slow demand during Ramadan and the approach of the Eid holiday. However, more trade activity has been heard in the bulk segment as local mills expect a demand revival after the holiday.
More specifically, after a deal for a 27,000 mt bulk cargo from Australia was signed last week at $456/mt CFR for HMS I/II (80:20) and at $461/mt CFR for shredded scrap, another ex-Australia bulk cargo has changed hands this week at $458/t CFR for 25,000 mt of HMS I/II (80:20) and at $463/t CFR for 3,000 mt of bonus scrap, according to market insiders. Meanwhile, indicative offers for ex-US HMS grade scrap have been estimated at around $460/mt CFR Chittagong.
At the same time, trade activity in the containerized segment has remained in a lull this week, with offers for ex-UK shredded scrap in containers standing at around $470/mt CFR, the same as last week. “We expect some recovery after the Eid holiday, but let’s face the reality, the opening of LCs will remain an issue for all buyers,” a market insider told SteelOrbis.