The uptrend in the import scrap market in Bangladesh has continued over the past week, even despite the still very poor demand from steel mills. Suppliers have been bullish due to the global price rises.
In the container scrap segment, offers for import shredded scrap from Europe have been heard at $485-495/mt CFR, against $465/mt CFR Chittagong in the previous week. “Since the last two weeks, we have not sold any quantity and most of my listed clients have stopped buying because of the high price, and they are only watching market movements,” a local trader said.
According to sources, “a very nominal tonnage” of P&S scrap has been traded at $485/mt CFR in Bangladesh.
Prices for HMS I/II 80:20 in containers have reached $460/mt CFR, up by $30-35/mt compared to the tradable level reported on February 19.
Bulk offers for HMS I/II 80:20 have been very scarce and not below $480/mt CFR, increasing by $20-30/mt over the past week.