Bangladeshi scrap importers have been active in negotiations, having concerns that prices may move up further. Overall, offer prices for scrap are around $10/mt higher than the levels in deals two weeks ago.
A mixed ex-EU bulk cargo including 35,000 mt of bonus, shredded 211 and HMS grade scrap has been booked by Bangladeshi mills for March shipment this week. The shredded and bonus scrap price was heard to be at $545-550/mt CFR Chittagong, while the booking price for HMS grade scrap was at $525/mt CFR Chittagong. About two weeks ago, an HMS bulk cargo was booked at $515/mt CFR Chittagong, as SteelOrbis reported previously.
Meanwhile, in the containerized scrap segment, more bookings have been heard recently. A mixed cargo for ex-UAE HMS I & PNS has been booked at $550/mt CFR, while the offers were coming at around $565/mt CFR, up by $10-15/mt over the past two weeks. Another cargo for ex-UK HMS I/II 80:20 scrap has been booked at $527-530/mt CFR Chittagong. In the meantime, an offer for ex-Peru PNS scrap was heard at $560-570/mt CFR. Offers for ex-UK containerized shredded scrap to Bangladesh have been heard at $570/mt CFR and ex-New Zealand offers at $575/mt CFR.
In the meantime, 10-16 mm rebar in Chittagong is available at BDT 76,000-79,000/mt ($887-923/mt) ex-works, up by BDT 1,000/mt ($12/mt) over the past two weeks, while in Dhaka offers are voiced mainly at BDT 72,000-74,000/mt ($840-863/mt) ex-works, the same as two weeks ago.
$1 = BDT 85.6900