Import prices for scrap in containers in Bangladesh have increased visibly over the past week, even despite customers not being very active in purchases. Suppliers’ bullish mood and the positive outlook in Turkey have supported the trend.
In the container scrap segment, the latest deal for shredded scrap has been heard for 1,000 mt at $465/mt CFR Chittagong. “No one is offering shredded at less than that for Chittagong,” a trader said. Also, negotiations have been at $460/mt CFR as “a buyer is not willing to give more,” he added. Earlier this week, the tradable price level was $450-455/mt CFR. Late last week, the indication for shredded scrap was $440/mt CFR, while the previous deal price level was $410/mt CFR about ten days ago.
Prices for HMS I/II 80:20 in containers have also improved, though not much activity has been seen. A small deal for 500 mt of ex-Australia HMS I/II 80:20 has been closed at $425/mt CFR, compared to $400/mt CFR in offers late last week and deals at $390-395/mt CFR ten days ago.
Buyers have been reluctant to conclude bulk scrap import deals so far. Offers for bulk ex-US HMS I/II 80:20 scrap have been heard at $450-460/mt CFR, up by $5/mt on average since last week. It is expected that demand for bulk may improve, but suppliers will also try to hike prices further, expecting higher prices in Turkey in the next deals.