Having renewed scrap inventories earlier, this week Bangladeshi steelmakers have delayed new bookings, though foreign scrap suppliers have been ready to book at lower levels. With the scrap market in Turkey having considerably softened in the latest deals and in general due to the prevailing sentiments in the steel industry, Bangladeshi customers assume that import scrap offers to Bangladesh still have room to move down further.
On balance, this week offers of bulk shredded scrap from US West Coast to Bangladesh have been voiced at $560-565/mt CFR, down around $10-15/mt in comparison to bookings fixed two weeks ago. Meanwhile, ex-Venezuela HMS scrap has been offered at $545-550/mt CFR, with no takers so far.
Meanwhile, offers for shredded scrap in containers have been heard at $565-570/mt CFR, down about by $5-10/mt within the past week, according to sources. A mixed cargo of ex-Dubai HMSI and PNS in containers has been offered at $570/mt CFR, SteelOrbis has learned.