Bangladeshi scrap importers have continued to purchase scrap in bulk as exporters have cut prices further. Specifically, after a deal at $490/mt CFR to Bangladesh for bulk cargo last week, two new deals for ex-Europe scrap have been concluded to Bangladesh over the past week, with a sharp price decrease.
A deal for a mixed ex-EU 40,000 mt cargo in bulk has been done at $400/mt CFR for HMS I/II 80:20 and at $410/mt CFR for bonus scrap. Besides, another contract for 40,000 mt of European origin scrap has also been reported this week, in which 20,000 mt of HMS I/II 80:20 was priced at $410/mt CFR, 10,000 mt of bonus at $415/mt CFR, while the rest of the volume was shredded scrap at $420/mt CFR.
Meanwhile, offer prices for ex-UK shredded scrap in containers in Bangladesh have been voiced at $525-530/mt CFR, down by $20-25/mt week on week, with a few deals signed at the abovementioned level. Offers for ex-UK HMS I/II 80:20 scrap have been heard at $510/mt CFR, compared to $510-530/mt CFR last week, while a deal for 2,000/mt of ex-UK HMS I/II 80:20 has been reported at $480/mt CFR this week, as SteelOrbis reported earlier.