Import scrap prices in Bangladesh have remained largely stable over the past week, with limited fluctuations seen in both the containerized and bulk segments, while overall sentiment has remained weak. Trading activity has been slow, with mills remaining cautious and mostly on the sidelines, though smaller buyers have still been active in the market. Compared to last week, price levels have shown only minor changes, pointing to a largely sideways trend, although offers have indicated a firm trend in some segments.
More specifically, offers for ex-EU/UK HMS I/II 80:20 scrap in containers have been heard at around $380/mt CFR Chattogram, in line with the levels recorded last week. Meanwhile, offers for ex-UK/EU shredded scrap in containers have been heard at around $405-420/mt CFR, remaining close to last week’s levels. “The market is very dull and there are almost no fresh offers from suppliers,” a Bangladeshi trader told SteelOrbis, adding, “Mills are still hesitant due to weak margins and poor finished steel demand.”
As for ex-Australia material, offers for HMS I/II 80:20 scrap have been heard at $390/mt CFR Chattogram, compared to around $385-387/mt CFR in deals reported last week, while shredded scrap has been offered at $415/mt CFR, versus $408-410/mt CFR heard previously. However, no confirmation has been received at the time of writing of new deals being concluded in response to these offers.
In terms of other origins, ex-Brazil LMS bundles have been traded at $340/mt CFR and HMS I/II 80:20 scrap has been sold at $380/mt CFR Chattogram, while ex-Hong Kong PNS scrap has been booked at $410/mt CFR Chattogram. Meanwhile, offers for Malaysian-origin PNS scrap have been heard at around $425/mt CFR.
In the bulk segment, a 10,000 mt cargo from Singapore is reported to have been booked with HMS I/II 80:20 at $400/mt CFR and PNS at $420/mt CFR Chattogram. Additionally, offers for South Korean bulk cargoes have been heard at $415/mt CFR for HMS I/II 80:20 and at around $400/mt CFR for busheling and PNS.
Market sources have indicated that offers have generally remained firm due to limited availability, while buyers’ bids have stayed significantly lower, resulting in a widening gap and very limited deal activity.
Bulk offers for ex-Japan H2 scrap have been heard at $400/mt CFR Bangladesh, slightly above last week’s levels, while freight has been estimated at around $50/mt by some sources, with others indicating even higher levels. At the same time, offers for ex-US HMS I/II 80:20 scrap have been heard at $410/mt CFR, though no confirmed deals have been reported. Overall, bulk trading activity has remained weak, with most mills refraining from purchases.
“Offers may come under pressure in the short term if buyers continue to stay away, as mills are still losing money and prefer to delay purchases,” a market source told SteelOrbis.
$1 = BDT 122.88