After prices for containerized scrap tumbled by $65/mt last week, scrap suppliers have started to increase offers in the Bangladesh market this week following the latest scrap bookings to Turkey at higher prices. Only some customers resumed negotiations amid their concerns that prices will continue to move up further, while most importers have been holding back.
Accordingly, this week import prices of ex-UK/EU shredded scrap in containers to Bangladesh have been voiced largely at $455-465/mt CFR, up by $5/mt on the higher end of the range week on week. Besides, offers for ex-EU HMS I scrap have been heard at $435/mt CFR, while offers for European origin HMS I/II 90:10 have settled at $425/mt CFR, up by 5/mt over the past week.
“Some small buyers have bought small batches in containers this week, but, in the bulk segment, suppliers are waiting to see how the Turkish market will work. As a result, there are no offers in bulk for Bangladesh,” a market insider told SteelOrbis. The indicative offers for ex-US and ex-Europe HMS grade scrap have been reported at $400/mt CFR, compared to $380-390/mt CFR at the end of last week.