Bangladesh’s imported scrap market lacked a clear direction this week, with mixed signals across different segments. While container-based scrap offers have been voiced at slightly lower levels, bulk scrap prices from the US have remained relatively stable. Meanwhile, ex-Japan bulk scrap deals varied significantly from buyer to buyer, with prices diverging by as much as $10/mt.
Most offers for shredded scrap in containers from Australia have been voiced at $370-375/mt CFR, down by $5/mt over the past two weeks. Besides, offers for shredded scrap from Japan, South Korea and New Zealand have settled at $375/mt CFR. According to sources, most bids from Bangladeshi buyers for ex-Australia scrap have declined even more, reaching $365/mt CFR level.
Furthermore, offers for ex-Australia HMS I/II 80:20 have settled at $350/mt CFR, while a deal for ex-Australia HMS I/II 80:20 has been signed at $345/mt CFR this week, according to sources.
Offers for PNS scrap in containers from Singapore and Malaysia have been voiced at $380-383/mt CFR.
In the meantime, although few deals have been heard in the bulk segment this week, market sources have reported active negotiations for ex-US HMS scrap, with offers heard around $355/mt CFR. “Most bids for ex-US West Coast HMS scrap have been voiced at $350/mt CFR, so new deals are expected to be done this week at around $351-352/mt CFR,” a market insider told SteelOrbis.
At the same time, more interest has been seen for ex-Japan scrap in bulk, with at least 10,000 mt of H2 and HS scrap reportedly booked at $337/mt CFR and $367/mt CFR, respectively. Furthermore, apart from these deals, Japanese scrap export Kanto tender was closed on September 10, with the highest bid at JPY 41,970/mt FAS ($285/mt FAS). The FAS prices translate to JPY 42,970/mt FOB or $291/mt FOB, which means around $347/mt CFR Chattogram. The total tonnage of the cargo was 15,000 mt.
Offers for ex-Singapore HMS grade scrap in bulk have been reported at $360/mt CFR, but according to sources, only small volumes have been offered, as Singaporean sellers have been directing much of their material to Vietnam and are not focused on the Bangladeshi market at the moment.