Although most offer prices for import scrap in Bangladesh have remained relatively stable or showing only a slight downward bias, Bangladeshi mills took advantage of the slight declines in scrap import prices in containers to replenish their inventories ahead of a potential rebound. Besides, bulk scrap inquiries rose this week from key mills in Chattogram, though no deals have been confirmed so far.
More specifically, offers for scrap in containers have been reported at $360/mt CFR for HMS I/II 80:20 from Australia and Europe, compared to $360-365/mt CFR last week, while offers for shredded scrap from both Europe and Australia have been reported at $380/mt CFR. According to sources, following deals for ex-Australia shredded scrap in containers at $385/mt CFR at the end of last week, at the beginning of this week more deals were reportedly signed at $382/mt CFR, while by the end of the week the material has changed hands at $379-380/mt CFR for at least 5,000 mt in total. Besides, Bangladeshi customers have closed several deals ex-Australia HMS I/II 80:20 for around 5,000-6,000 mt in total at $360-365/mt CFR.
Furthermore, suppliers of PNS scrap from Hong Kong and Singapore have been reported at $385-390/mt CFR, the same as last week.
According to sources, more interest has been seen in scrap in bulk, though deals have remained occasional. Besides, following a new deal for ex-US HMS grade signed at $350/mt CFR last week, most offers have been reported at around $370/mt CFR this week. Besides, offers for ex-Australia HMS I/II 80:20 scrap in bulk have been reported at $355-360/mt CFR, the same as last week.
