Import scrap prices in Bangladesh have declined this week, as limited construction activity and weak downstream demand continue to weigh on the market. With the monsoon season expected to persist until November, construction across the country remains subdued, putting additional pressure on steel consumption. Market participants also point to the absence of new government infrastructure announcements, which has further dampened sentiment and kept buying interest low among mills. As a result, scrap importers have adopted a cautious approach, waiting for clearer signals of demand recovery before resuming significant bookings.
According to sources, most offers for shredded scrap in containers from Australia have been voiced at $370-375/mt CFR, compared to $375/mt CFR two weeks ago. Besides, offers for ex-Malaysia shredded scrap have been voiced at $375/mt CFR, though most bids have settled at $365-370/mt CFR.
Offers for ex-Australia HMS I/II 90:10 have settled at $350/mt CFR, with a few small deals reported to have been signed at this level, according to sources.
Furthermore, offer prices for ex-Hong Kong PNS scrap in containers have been reported at $380-385/mt CFR, down by $2-5/mt over the past two weeks.
In the bulk segment, ex-Japan H2 offers have been voiced at $340-345/mt CFR levels, the same as two weeks ago. However, buyers’ bids have declined to $335/mt CFR. Meanwhile, indicative offers for ex-US HMS I/II 80:20 scrap have remined stable at around $350-355/mt CFR levels.
According to sources, a significant revival in demand is not anticipated before March, when a new government is expected to take office. Industry expectations are that the post-election period will bring a release of delayed payments and the rollout of new project allocations, which could serve as a catalyst for a market recovery.