Although the general demand for finished steel has remained slow in Bangladesh this week despite the approach of Ramadan, trade activity in the import scrap market has remained moderate, with most offers for scrap in containers remaining relatively stable, though with an upward bias in some offers.
Specifically, in the containerized segment, most offers for ex-EU/UK shredded scrap have been maintained at $380/mt CFR, while offers from Australia have been estimated at $375/mt CFR. At the same time, shredded offers from Malaysia, Singapore and Hong Kong have been estimated at $380/mt CFR, according to sources.
Besides, offers for ex-Hong Kong PNS scrap have been reported at $385-388/mt CFR, up by $3-5/mt over the past two weeks.
“Bangladeshi buyers have managed to book around 5,000 mt in total of containerized scrap for different grades and origins at mainly the same price levels as a week ago,” a local trader told SteelOrbis.
In the bulk segment, no firm offers have been reported from the US, while offers for ex-Japan H2 scrap have been estimated at $340/mt CFR.