Trade activity in the import scrap market in Bangladesh has been rather limited as most buyers’ appetite has decreased somewhat following active restocking during previous weeks. Thus, apart from containerized bookings at slightly lower levels, no fresh deals have been reported for scrap in bulk.
The latest 3,000 mt deal for containerized HMS I/II 80:20 scrap from Australia has been reported at $422-425/mt CFR, mainly at the same level as last week. Meanwhile, offers for ex-Europe shredded scrap have dropped to $435-440/mt CFR, down by $5/mt week on week, while offers for shredded scrap from New Zealand have been reported at $440/mt CFR, versus $445/mt CFR last week, though most bids have been voiced at $435/mt CFR level. Furthermore, according to sources, several deals for ex-Middle East HMS I/II 90:10 scrap have been signed at $415/mt CFR Bangladesh, down by $10/mt week on week.
At the same time, offers for ex-US HMS grade scrap in bulk have remained stable at $430/mt CFR, while offers for shredded scrap have been estimated at $435/mt CFR, the same as last week. No deals have been reported so far though, as according to customers, given that Bangladesh booked five to six cargos last month, buyers’ appetite for scrap has decreased somewhat. “Also, we are anticipating the LC issue to get worse in the coming months ahead of the election on January 24,” a Bangladeshi trader told SteelOrbis.