Prices for import scrap have reached the bottom in Bangladesh over the past week, according to sources, and have started to increase after the recent hike in Turkey and amid a more positive outlook.
By the end of the week, offers for bulk ex-US HMS I/II 80:20 scrap have increased to at least $450/mt CFR, up by $20/mt since last week. At the same time, as customers replenished stocks earlier they are not going to resume purchases for now.
In the container scrap segment, the latest deals for shredded scrap were done at $410/mt CFR early this week, slightly down compared to the negotiation levels of $410-415/mt CFR last week. However, after the recent increase in Turkey, “Suppliers will ask at least $440/mt CFR,” a source said.
Some deals for HMS I/II 80:20 in containers were reported at $390-395/mt CFR early this week, down by around $5-10/mt compared to the price level last week. Rare offers for this grade have been coming at well above $400/mt CFR late this week.