Import prices for scrap in Bangladesh have mainly remained at the same levels as last week, with more fresh deals reported this week. At the same time, no new purchases of scrap in bulk have been reported so far, though, according to sources, talks are underway.
Specifically, several deals for around 5,000/mt of ex-UK/EU shredded scrap have been reported at around $510-515/mt CFR, the same as last week. At the same time, more deals for PNS scrap, from Singapore, Malaysia and Hong Kong are reported to have been signed by Bangladeshi buyers at $510-520/mt CFR, stable over the past week, though some offers have been reported at $535/mt CFR. Furthermore, several bookings for ex-Brazil HMS I/II 90:10 scrap have been reported at $470-475/mt CFR this week. “During the past two weeks, around 35,000-40,000 mt in total of different scrap have been booked in containers as buyers are willing to replenish their stocks,” a market insider said.
At the same time, following sizable lots for ex-Australia shredded scrap in bulk booked last week at around $495-497/mt CFR, no fresh deals have been reported this week, though, according to market insiders, ex-US shredded scrap has been offered at $500/mt CFR, while offers for HMS grade scrap have settled at $490/mt CFR, the same as last week.
Meanwhile, domestic prices for 10-16 mm rebar have reached a record price at BDT 100,000/mt ($949/mt) ex-works Chittagong this week, up by BDT 4,000/mt ($38/mt) over the past two weeks.
$1 = BDT 105.36