Imported scrap demand in Bangladesh has remained weak, with steelmakers refraining from significant bookings due to sluggish rebar consumption and ongoing liquidity pressure. Mills have continued operating at reduced capacity to manage costs. At the same time, containerized scrap prices have been largely stable over the past two weeks, though with a slight downward bias in a number of offers.
Offers for shredded scrap from EU have been voiced at $365/mt CFR compared to $367-370/mt CFR two weeks ago, while offers for ex-EU HMS I/II 80:20 scrap have been voiced at $345/mt CFR level. Besides, offers for ex-Australia shredded and HMS I/II 80:20 have been voiced at $360-365/mt CFR and $345/mt CFR, mainly the same as two weeks ago.
Furthermore, according to sources, a deal for around 1,000 mt of ex-Hong Kong PNS scrap has been signed at $373/mt CFR, the same as two weeks ago. In addition, offers for ex-Malaysia PNS scrap have settled at $372-375/mt CFR.
In the bulk segment, offers for ex-US HMS scrap have been voiced at around $353-355/mt CFR, compared to $350/mt CFR two weeks ago. Besides, indicative offers for ex-Japan H2 scrap have remained at $345-350/mt CFR. “Some mills kept an eye on Japanese scrap but largely held back, focusing instead on reducing existing rebar inventories,” a market insider told SteelOrbis, adding that “Persistent difficulties in opening and processing letter of credits (LCs) continued to curb import flexibility and weigh on sentiment, keeping fresh bookings to a minimum”.
“Mills are expected to continue focusing on inventory reduction rather than committing to new scrap cargoes. A more pronounced recovery will depend on improved financial access and a steady pickup in construction demand once seasonal disruptions ease,” another source said.