Import scrap buying in Bangladesh still limited by global container shortage

Friday, 27 August 2021 17:34:25 (GMT+3)   |   Istanbul
       

The lingering challenges connected with containerized shipping have continued to hamper import scrap trading in Bangladesh. In addition, the situation in the end-user segments in Bangladesh is said to be hampering new large-sized scrap bookings.

Import scrap offers to Bangladesh have continued to move down, following the bearish outlook in the global raw material market. However, the rate of the decline has continued to lag behind the declines seen worldwide. Specifically,  this week import offers of shredded scrap of European/UK origin in containers to Bangladesh have been heard at around $530-540/mt CFR Chittagong, compared to $540/mt CFR Chittagong voiced in the middle of August. SteelOrbis has learned of a small lot of ex-Poland shredded scrap sold at $532/mt CFR Chittagong. Meanwhile, HMS I/II 80:20 offers of European origin have been voiced at $505-510/mt CFR Chittagong, down $10/mt over the past two weeks, while offers for PNS scrap from South Asia have been heard at around $540/mt CFR Chittagong. “My traditional supplier of scrap in the US is not able to give a firm offer due to the container issue. We are waiting when he arranges any containers for Chittagong,” a Bangladesh-based trader told.

In the meantime, the range of local rebar prices in Bangladesh has remained unchanged at BDT 71,000-74,000/mt ($818-853/mt) ex-works.


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