On July 17, SteelOrbis reported containerized shredded scrap import offer prices from the UK and EU to Bangladesh at $331-335/mt CFR and containerized HMS I/II 80:20 reportedly at $318-320/mt CFR.
Sources inform SteelOrbis that containerized shredded scrap import offers to Bangladesh from the UK and EU are now reportedly at $326-330/mt CFR and containerized HMS I/II 80:20 are reportedly at $313-317/mt CFR. A source noted that lower offer prices for each scrap grade are available from other not EU destinations. Shredded scrap prices decreased by $5/mt while HMS I/II 80:20 prices decreased $5/mt from the bottom of the previous range and $3/mt from the top of the same range.
Limited interest in imported scrap at present levels is attributed to falling domestic scrap prices on finished steel products. For example, a source noted that rebar prices from medium-sized mills in Bangladesh reportedly reached an average price of BDT 62,500/mt ($740/mt) ex-works in early July. The average price has now decreased to BDT 59,500 ($704/mt) ex-works, a decline of 5 percent over the past three weeks. Buyers are expected to transact imported volumes after the early August trading period throughout various global markets provides a clearer trend for Q3.
USD = BDT 84.48 (Jul 5)
USD = BDT 84.48 (Jul 25)