This week, most import offers for scrap in Bangladesh have remained mostly stable in the past week, though showing a slight downward bias in some offers following the global trend. At the same time, although some recovery in steel demand has been seen after the holidays, trade activity in the import scrap segment has remained moderate.
More specifically, offers for ex-EU/UK shredded scrap in containers have been voiced at $390/mt CFR, compared to $390-395/mt CFR last week. Besides, according to sources, offers for ex-Australia shredded scrap have settled at $385-390/mt CFR, mainly the same as last week. Besides, ex-Australia HMS I/II 80:20 scrap offers have remained at around $365-370/mt CFR.
Offers for ex-Singapore HMS I/II 80:20 has been voiced $375/mt CFR, though bids have stayed below $365/mt CFR, while HMS I and PNS scrap prices from Singapore and Malaysia have been reported at $385/mt CFR and $390/mt CFR, respectively.
Furthermore, suppliers of PNS scrap from Hong Kong have kept offering their materials at $390-395/mt CFR this week, the same as those from Australia and Brazil.
According to sources, more interest has been seen in ex-Australia shredded scrap in bulk with a few deals reported to have been done at $380/mt CFR. Meanwhile, as for bulk scrap offers from the US, most offers for HMS grade scrap have settled at $375/mt CFR, down by $5-10/mt week on week, while offers for ex-Japan H2 have been voiced at $360-365/mt CFR.
“Mills remain hesitant, holding off on purchases until price trends become clearer. Overall, the market outlook is muted, with potential for further price corrections amid ongoing global uncertainties. Besides, elevated freight rates are expected to limit containerized scrap transactions, though some interest in bulk cargoes may emerge,” a market insider told SteelOrbis.