Global scrap suppliers have increased their offers to Bangladesh again this week although end-users in the country are very reluctant to accept any increase in deal prices amid still low demand.
Accordingly, only a few deals have been reported at new levels this week. In particular, SteelOrbis has learned of ex-UK/EU shredded 211 containerized cargo booking of 2,000 mt at $585/mt CFR, up by $5/mt compared to the price level in the last deal done last week. Offers for ex-UK shredded 211 scrap have been voiced at $585-590/mt CFR, up by $5/mt week on week. Besides, ex-UK containerized HMS I/II 80:20 scrap offers have been heard at $550/mt CFR, up by $540-545/mt CFR. Ex-Brazil HMS I/II 80:20 scrap offers have been heard at $560/mt CFR.
Meanwhile, offers for bulk ex-US shredded scrap have increased to $580-590/mt CFR, compared to $580-585/mt CFR last week. According to market insiders, the main Bangladeshi producers have been refraining from new purchases this week, awaiting a clearer trend in Turkey.