Although import scrap prices have been kept falling this week, most Bangladeshi scrap importers have still been reporting very limited interest in new bookings, especially for containerized scrap given the letter of credit (LC) restrictions. Thus, according to sources, only a few occasional deals for containerized scrap have been reported in the market, though a few sizable lots are reported to have been bought in bulk.
More specifically, according to sources, a deal for 32,000 mt of ex-Australia HMS grade scrap was reported at $405/mt CFR last week, while another deal also for 32,000 mt of ex-US HMS grade scrap is reported to have been signed at $395/mt CFR. Offers for ex-US HMS I/II 80:20 scrap have been estimated at $395-400/mt CFR, down by $20-25/mt week on week, and at around $415/mt CFR for shredded 211 scrap, versus $425/mt CFR last week.
Meanwhile, offers for ex-EU shredded scrap in containers have been heard at $414-420/mt CFR, down by $10/mt over the past week, while offers for HMS I/II 80:20 scrap have settled at $400/mt CFR, against $420/mt CFR last week.
According to several sources, a few deals for 1,000 mt each of ex-Malaysia and ex-Hong Kong PNS scrap were done at $440/mt CFR, though by the end of the week this price level is considered to be unworkable, with indicative offers falling to $425-430/mt CFR levels.
