Following a relatively long pause, Bangladeshi customers have resumed bulk scrap bookings. Specifically, SteelOrbis has learned about at least one fresh booking of 32,000 mt of full ex-US shredded scrap in bulk at $540/mt CFR, concluded at the beginning of the current week, which is in line with the deals done in late May. The deal price corresponds to the lower range of offers voiced within the past week.
In the container scrap segment, trading has remained seriously constrained by logistic issues and concurrently, due to the offers-bids mismatch. “Besides all, business is quite slow these days due to the huge shortage of containers,” a trader stated with the regard to the current developments in the market.
Meanwhile, this week offers for HMS I/II 80:20 scrap of US, Brazil, EU origin in containers have been voiced mainly at $525-540/mt CFR, with most of bids hardly exceeding the low end of the abovementioned range.
In the meantime, SteelOrbis has learned of a contract for 5,000 mt of HMS I/II 90:10 scrap from the UK at $530/mt CFR, while the deal for a mixed 5,000 mt cargo of HMS I and PNS in total from the UAE was closed at $545/mt CFR. Despite a $5-10/mt decrease in offers to $545-550/mt CFR this week, no fresh deals for shredded scrap have been reported by the time of publication.