The uptrend in the import scrap market in Bangladesh has continued this week as supply from the major exporters has been limited and as availability of containers is still tight, with freight freight rates still at higher levels. As a result, another $10/mt increase has been seen in the latest ex-US bulk scrap deal and prices still have some space to go up.
According to sources, a Bangladesh-based producer has booked ex-US HMS I/II 80:20 scrap at $345/mt CFR, while shredded scrap of the same origin in this deal has been priced at $355/mt CFR. Prices from the US have increased by $10/mt compared to the previous booking reported last week. Offers for ex-US scrap have already exceeded $350/mt CFR, sources have said. Though the steel market has not been very strong in Bangladesh, the tightening of material has been the main driver of prices, SteelOrbis learned.
In the container scrap segment, offers from the US and Canada for shredded scrap increased to $355/mt CFR in the middle of the week, up by $8/mt from previous delas. But by the end of the week, the offer price level has reached $360/mt CFR or above.