With the continued shortage of available containers, import scrap trading in Bangladesh has remained greatly constrained. Nevertheless, being quite optimistic on the future prospects for the finished steel market, Bangladeshi scrap customers have continued to closely observe developments in the freight market while gathering offers from their traditional scrap suppliers.
Meanwhile, this week SteelOrbis has heard of a 5,000 mt sale of containerized HMS I/II 80:20 scrap from the UK at $495/mt CFR, down around $2-5/mt from the levels seen a week ago. A mixed lot of 1,000-2,000 mt of ex-Dubai HMS I and PNS scrap has been booked at $530/mt CFR, according to sources. In addition, a small lot of HMS I from the Middle East has been booked at $510/mt CFR. “There are no containers from other destinations. Meanwhile, mills are also not actively buying at present as local sales are still not good,” a Bangladesh-based trader commented. Shredded scrap in containers has been available at an unchanged price compared to the previous week, at $540/mt CFR, with no transaction reported by the time of publication.