Import scrap offers in Bangladesh have moved down this week, aligning with the global downtrend. At the same time, the Bangladeshi ferrous scrap market is showing signs of cautious stability, with moderate demand and limited trading momentum. However, rising utility costs - especially gas and electricity tariffs - are beginning to strain operations, particularly for small- and medium-sized mills, some of which have already scaled back production to manage expenses.
More specifically, offers for ex-EU/UK shredded scrap in containers have been voiced at $380/mt CFR, compared to $390/mt CFR last week. Besides, according to sources, offers for ex-Australia shredded scrap have settled at $380-385/mt CFR, down by $10/mt week on week, while offers for shredded scrap from Malayasia and South Korea have also been voiced at $380/mt CFR level.
At the same time, workable prices for ex-EU HMS I/II 80:20 scrap offers have been at around $355/mt CFR, down $10/mt over the past week, while a few deals are reported to have been signed at $365/mt CFR for ex-Australia HMS I/II 90:10 scrap at the beginning of this week.
Furthermore, suppliers of PNS scrap from Hong Kong have reduced their offers to $385-390/mt CFR this week, down by $5/mt week on week.
According to sources, more interest has been seen in scrap in bulk, with a few batches of ex-US HMS grade scrap signed at $370/mt CFR a week ago, while this week a new deal for ex-US HMS grade has been signed at $350/mt CFR. Besides, offers for ex-Australia HMS I/II 80:20 scrap in bulk have been reported at $355-360/mt CFR.
“The short-term future of the market remains unclear. Global price fluctuations, higher freight costs from key origins like Australia, and local cost pressures are making buyers increasingly cautious. Without a strong rebound in demand, scrap prices are expected to face continued downward pressure in the coming weeks,” a market insider told SteelOrbis.