Scrap customers in Bangladesh have increased their bids over the past week, needing to purchase additional bulk scrap cargoes. Though there have been no reports of new sales from the US to Bangladesh, the market is still one of the most attractive for suppliers in terms of acceptable prices. Japanese suppliers have also been attempting to increase prices, seeing higher bids.
Importers have been bidding at $310/mt CFR for ex-US HMS I/II 80:20 by bulk, while some sources reported that a price level up to $3-5/mt higher is possible for customers. The previous bookings were done at $308-310/mt CFR for HMS I/II 80:20 and a mixed cargo. “Demand is there. Bangladesh is paying a good price,” a source said.
Also, bids for Japanese H2 scrap have increased to $303/mt CFR on average, with some tonnages booked recently, while offer prices have been set at $305/mt CFR minimum.
In the containerized scrap segment, HMS I scrap has been traded at $312/mt CFR, while a mixed cargo of HMS I and P&S has been booked at $317/mt CFR from Brazil and Australia. Offers for shredded scrap in containers have been reported at $320/mt CFR minimum.
