Bangladeshi scrap importers have been active in negotiations, especially in the containerized segment, having concerns that prices may move up further. However, despite their concerns, most suppliers of scrap in containers have maintained their prices for Bangladeshi buyers stable this week, while offers for bulk scrap have increased slightly.
Accordingly, in the containerized scrap segment, more bookings have been heard recently. A cargo for ex-UK shredded scrap has been booked at $655-660/mt CFR, the same as last week. Besides, a few small lots of ex-UK HMS I/II 80:20 scrap have been booked at $620-625/mt CFR this week. Another deal for ex-UK PNS scrap has been reported at $650/mt CFR. Furthermore, a cargo for ex-Brazil HMS I/II 90:10 scrap has been booked at $630/mt CFR, which also corresponds to last week's offer level.
Meanwhile, business activity in the bulk scrap segment has been rather slow this week. After a mixed ex-US bulk cargo including around 32,000 mt of HMS I/II 80:20, shredded 211 and bonus scrap was booked by Bangladeshi mills at $700/mt CFR last week, no fresh deals have been reported this week so far. Offers for ex-US bulk HMS grade scrap have been voiced at around $710-715/mt CFR.
In the meantime, 10-16 mm rebar in Bangladesh is available at around PKR 82,500-87,000/mt ($955-1,006/mt) ex-warehouse, the same as last week.
“The domestic rebar market has remained subdued owing to slow demand from end-users. However, most Bangladeshi scrap buyers expect that suppliers are likely to quote fresh offers at higher levels in the short run,” a market insider told.