Although the situation in the import scrap market in Bangladesh has remained difficult with low demand and the ongoing problem regarding letters of credit (LCs), more deals have been reported in Bangladesh this week, mainly due to steelmakers’ need to replenish their stocks, coupled with still bullish sentiments in the market in terms of pricing.
More specifically, in the container scrap segment, deals for HMS I/II 80:20 from Australia and New Zealand have been reported at $422-425/mt CFR level this week, while offers have been voiced at $425-430/mt CFR. Besides, another deal for ex-Malaysia bushelling scrap has been signed at $455-460/mt CFR. Meanwhile, ex-UK/EU and ex-Australia offers for shredded scrap have settled at $450/mt CFR, up by $10/mt week on week, while most offers for PNS scrap have remained at $455/mt CFR, the same as last week.
In the bulk segment, trade activity has remained limited so far, with only a deal for 8,000 mt of ex-Singapore PNS scrap being confirmed at $440/mt CFR this week. No deals for ex-US scrap in bulk have been reported so far, with offers for HMS grade increasing to $420-425/mt CFR, up by $10-15/mt week on week. Besides, indicative offers for shredded and bonus grade scrap have been estimated at $430/mt CFR and $435/mt CFR, respectively.