The shortage of import scrap has continued to push up prices in Bangladesh over the past week, with prices adding another $15/mt in the latest deals for shredded scrap in containers. Offers for bulk scrap have also risen, exceeding the $400/mt CFR mark.
The latest bookings for 1,000-2,000 mt of shredded scrap from Australia and Europe have been reported at $420/mt CFR, up from $405/mt CFR a week ago. Also, a few lots of 1,000-3,000 mt each of PNS from the UK have been booked at $416-420/mt CFR. Prices for HMS I/II 80:20 in containers have reached the level of $405/mt CFR in a fresh contract this week. Sources have reported a persisting shortage of containers, which is unlikely to be resolved in the next month or two. Customers in Bangladesh have been reluctant to accept higher scrap prices, but have had to accept them amid a lack of options.
In the bulk scrap segment, offers for ex-US HMS I/II 80:20 have been reported at $410/mt CFR or so, up by $15/mt from last week. But no new bookings have been confirmed so far.