Bangladeshi scrap importers have been showing minimal interest in bookings amid slow demand due to disruptions in infrastructure projects caused by heavy rains. Import prices, however, have stopped decreasing and some offers for containerized scrap have even been heard at higher levels.
Specifically, offers prices for ex-UK shredded scrap in containers in Bangladesh have been voiced at $470-475/mt CFR, up by $5/mt week on week. Besides, offers for ex-UK HMS I/II 80:20 scrap have been heard at around $445-450/mt CFR, compared to $440/mt CFR last week.
Meanwhile, market sources have estimated the current level for ex-US HMS I/II 80:20 at $400/mt CFR, down by $10/mt. Furthermore, offers for ex-Baltic HMS grade scrap have been heard at $390/mt CFR Bangladesh, though no deals have been reported so far. “Most buyers are not interested in new purchases because they have high stocks now coupled with continuous problems with opening letters of credit,” a market insider told.