While import scrap prices have continued to increase this week in Bangladesh given the bullishness of global scrap suppliers, following their success in receiving higher prices in deals to Turkey, business activity in Bangladesh has remained muted due to liquidity issues.
Accordingly, the indicative offers for ex-US HMS I/II 80:20 scrap in bulk have been reported at around $410/mt CFR, compared to $390-400/mt CFR last week.
At the same time, offers for ex-UK shredded scrap in containers have been reported at $450-455/mt CFR, up by $10/mt week on week, while some insiders have reported offers at as high as $460/mt CFR. Besides, offers for ex-UK/EU PNS scrap in containers have been voiced at $465/mt CFR. “The opening of LCs is still an issue, so buyers can’t book the materials, and many sellers are not interested in even offering,” a Bangladeshi trader told SteelOrbis. “We were also informed by European sellers that yards will be closed from December 20 until January 10,” he added.