Import scrap prices for containerized scrap in Bangladesh have increased slightly over the past two weeks, with occasional deals signed at higher levels, while trade activity in the bulk segment has slowed down with sentiments remaining cautious.
At the same time, offers for shredded scrap from the EU have been voiced at $373-375/mt CFR, up by $3-5/mt over the past two weeks, while offers for ex-EU HMS I/II 80:20 scrap have settled at $352-355/mt CFR, up by $2-5/mt over the period under review.
Besides, offers for ex-Australia shredded have settled at $380/mt CFR, compared to $365-370/mt CFR two weeks ago, while offers for HMS I/II 80:20 have been reported at $360/mt CFR, up by $10/mt over the period under review. Offers for PNS have been voiced at $380-385/mt CFR levels.
According to sources, while two weeks ago deals for 5,000 mt each of ex-Malaysia PNS scrap were signed at $375/mt CFR, and a deal for around 1,000 mt was done at $380/mt CFR last week, new offers for ex-Malaysia HMS I/II 90:10 and PNS scrap have been voiced at $375/mt CFR and $385/mt CFR, respectively.
Furthermore, a deal for around 1,000 mt of PNS from Singapore has been signed at $383/mt CFR.
In the meantime, in the bulk segment, this week ex-Japan H2 scrap offers have been estimated at $350-355/mt CFR, the same as two weeks ago. Offers for ex-US HMS I/II 80:20 scrap have been estimated at around $355/mt CFR, compared to $365/mt CFR two weeks ago, but no fresh deals have been reported so far.
Meanwhile, local prices for rebar in Dhaka have been voiced at around BDT 80,000/mt ($652/mt) ex-works, up by BDT 5,000/mt ($40/mt) over the past two weeks, while offers for local scrap have settled at around BDT 52,000/mt ($424/mt) ex-warehouse, up by BDT 4,000/mt ($33/mt) over the past two weeks.
“Near-term import scrap prices in Bangladesh are expected to remain supported by a combination of tightening international supply and replenishment-driven demand. Mills are likely to prioritise containerised cargoes from nearby suppliers to benefit from faster shipment cycles,” a market insider told SteelOrbis.
$1 = BDT 122.60