Import scrap prices in Bangladesh have increased slightly over the past week, with occasional deals signed mainly for containerized scrap, while trade activity in the bulk segment has improved to some extent following deals from Japan and Singapore last week. Thus, firmer scrap demand and constrained supply from key origins have kept prices on an upward footing, despite selective buying by mills.
More specifically, in the bulk segment, following a deal for 20,000 mt in total of ex-Japan H2 and HS scrap signed at the beginning of last week at $345/mt CFR and $375/mt CFR, respectively, another deal for around 25,000 mt of ex-Japan H1/H2 and HS and busheling scrap is reported to have been signed at $350-355/mt CFR, $380/mt CFR and $385/mt CFR, respectively, at the end of last week. Meanwhile, this week, ex-Japan H2 scrap offers have been estimated at $350-355/mt CFR, up by $5/mt week on week.
Furthermore, a few more deals in bulk for around 20,000 mt in total of ex-Singapore HMS I/II 80:20 scrap have been signed at $358-362/mt CFR, according to sources.
Offers for ex-US HMS I/II 80:20 scrap have been estimated at around $365/mt CFR, compared to $360-365/mt CFR two weeks ago, but no fresh deals have been reported so far.
At the same time, offers for shredded scrap from the EU have been voiced at $370/mt CFR, up by $5/mt over the past two weeks, while offers for ex-EU HMS I/II 80:20 scrap have settled at $350/mt CFR, up by $5/mt over the period under review.
Besides, offers for ex-Australia shredded have settled at $365-370/mt CFR, up $5/mt, while offers for HMS I/II 80:20 have been reported at $345-350/mt CFR, compared to $345/mt two weeks ago.
According to sources, several deals for 500 mt each of ex-Malaysia HMS I/II 90:10, PNS and HMS bundle scrap have been signed at $368/mt CFR, $374-380/mt CFR and at $345/mt CFR, respectively.
Meanwhile, local prices for rebar in Dhaka have been voiced at around BDT 75,000/mt ($614/mt) ex-works, up by BDT 3,000/mt ($25/mt) over the past two weeks, while offers for local scrap have settled at BDT 48,000/mt ($392/mt) ex-warehouse.
“Near-term import scrap prices in Bangladesh are expected to remain supported by a combination of tightening international supply and replenishment-driven demand. Mills are likely to prioritise containerised cargoes from nearby suppliers to benefit from faster shipment cycles,” a market insider told SteelOrbis.
$1 = BDT 122.25