Import scrap prices in Bangladesh have moved up further over the past week, with both containerized and bulk scrap prices increasing compared to the previous week, though sentiment has remained cautious. Trading activity is still limited, with buyers focusing mainly on immediate requirements.
More specifically, ex-EU/UK HMS I/II 80:20 scrap in containers have been heard at $390-392/mt CFR Chattogram, compared to around $380/mt CFR Chattogram heard last week, while ex- EU/UK shredded scrap in containers has been heard at around $420/mt CFR Chattogram, versus around $405-420/mt CFR heard last week. Buyers have continued to target lower levels, keeping fresh trading activity largely muted.
“The market is very quiet this week. We are working for short-transit cargoes, while demand for long-transit cargoes is very low,” a Bangladeshi trader told SteelOrbis.
Besides, offers for ex-Australia shredded scrap in containers have been heard at $415-418/mt CFR Chattogram, compared to around $415/mt CFR heard last week, while prices for PNS scrap have been heard at $425-430/mt CFR Chattogram. At the same time, offers for HMS grade scrap have been heard at around $390/mt CFR and offers for HMS I scrap at around $400/mt CFR. Against this backdrop, ex-Australia PNS scrap has been sold at $426/mt CFR Chattogram, while ex-Australia HMS I scrap has been sold at $394/mt CFR Chattogram, according to sources.
In terms of other origins, bids for ex-Hong Kong PNS scrap have settled at $410/mt CFR Chattogram, against offers at $430/mt CFR Chattogram and higher last week. Meanwhile, bids for Malaysian-origin PNS scrap have been heard at $435-440/mt CFR Chattogram, while there have been bids for Malaysian-origin shredded scrap at around $435/mt CFR Chattogram, though no positive buying indications have been heard so far.
In the bulk segment, offers for ex-Japan H2 scrap have been heard at around $415/mt CFR Bangladesh, up by $15/mt week on week. At the same time, no fresh offers have been head for ex-US bulk scrap this week, while last week’s indicative offers were reported at $410/mt CFR.