On February 8, SteelOrbis reported the continued downward trend of import scrap offers to Bangladesh reflecting movements in the global scrap market.
Sources inform SteelOrbis that import scrap offers to Bangladesh have since rebounded and containerized shredded scrap offers from various regions have increased from $377-380/mt CFR to $380-385/mt CFR Bangladesh. The range increased $3/mt from the bottom of the range and $5/mt from the top of the same range.
A week ago, offers for imported HMS I/II 80:20 were trending at around $355/mt CFR Bangladesh, with a few offers as high as $360/mt CFR. Offers have now reportedly shifted up to $360-370/mt CFR. Offer prices for HMS I/II 80:20 have increased $5/mt from the bottom of the previous range and $10/mt from the top of the same range.
Despite the increase in scrap offer prices, sources note that local mills are showing interest in scrap imports on "positive planning sentiment” for second quarter 2018.