Import scrap prices in Bangladesh have increased slightly over the past two weeks, but trading activity has remained sluggish. Year-end trading saw a slight recovery in activity, driven by selective scrap offers from suppliers, though the broader market has continued to face headwinds, largely due to political uncertainty ahead of the elections expected within the next two months.
Offers for shredded scrap from the EU have moved up slightly by $5/mt to $365/mt CFR, while offers for ex-EU HMS I/II 80:20 scrap have been voiced at $345/mt CFR, up by $5/mt week on week. Besides, offers for ex-Australia shredded have settled at $360-365/mt CFR, mainly the same as two weeks ago, while offers for PNS scrap have been voiced at around $370/mt CFR.
In the bulk segment, offers for ex-US HMS scrap have been voiced at around $360/mt CFR compared to $350/mt CFR two weeks ago, but no fresh deals have been reported so far.
Indicative offers for ex-Japan H2 scrap have moved to $345/mt CFR, versus $340/mt CFR two weeks ago, though, according to sources, buyers’ bids have still been voiced at below $340/mt CFR.
Meanwhile, local prices for rebar in Dhaka have been voiced at around BDT 75,000/mt ($613/mt) ex-works, mainly the same as two weeks ago, while offers for local scrap have settled at BDT 48,000/mt ($392/mt) ex-warehouse.
“Interest in import scrap deals has remained limited in Bangladesh, with few buyers showing aggressive intent. Despite the stronger taka and steady steel local prices, confidence has been dampened by ongoing political uncertainty,” a market insider told SteelOrbis.
$1 = BDT 122.26