Prices for import scrap in Bangladesh have posted just small changes over the past two weeks, increasing a little further, but then stabilizing. As demand has been fading away, impacted by the lockdown and Ramadan, prices may retreat in the near future, market sources told SteelOrbis.
Deal prices for shredded scrap in containers in Bangladesh were at $472-474/mt CFR last week. This means that prices have added about $15/mt compared to contracts in the first days of April, but after the price level reached $470/mt CFR and demand weakened, the rises stopped. “The situation is not so good as Covid cases are increasing day by day. We are in lockdown until April 21, and it has now been extended until April 28,” a trader said. Another source said that, though offers for shredded scrap are coming at $480-485/mt CFR to Bangladesh, “Demand is weak even at lower prices.” The workable price level for HMS I/II 80:20 in containers has been at $445-450/mt CFR Bangladesh.
In the bulk scrap segment, no new deals have been reported over the past week and the tradable level for HMS I/II 80:20 scrap from the US has remained at $465/mt CFR. Early in the month, a few bulk cargoes changed hands at around this level.