Import scrap prices in Bangladesh have edged slightly slower over the past two weeks, but trading activity has remained sluggish. Mills are restricting purchases to essential volumes as bids continue to fall well below offer levels, while weak steel demand keeps production muted.
Offers for shredded scrap from the EU have moved down slightly by $5/mt to $360/mt CFR, while offers for ex-EU HMS I/II 80:20 scrap have been voiced at $340/mt CFR, down by $5/mt on the higher end of the range week on week. Besides, offers for ex-Australia shredded have settled at $360-365/mt CFR, mainly the same as two weeks ago.
Furthermore, according to sources, offers for ex-Singapore PNS scrap has been heard at $380/mt CFR levels, while most bids have been reported at $365/mt CFR.
In the bulk segment, offers for ex-US HMS scrap have been voiced at around $350/mt CFR compared to $355-360/mt CFR two weeks ago, but no fresh deals have been reported so far, though market insiders report that mills have been in the process of negotiating.
Indicative offers for ex-Japan H2 scrap have remained at $340/mt CFR, versus $340-345/mt CFR two weeks ago.
“Unless the BDT stabilises and domestic steel sales improve, scrap buying is expected to remain limited, leaving the market subdued for the rest of December,” a market insider told SteelOrbis.