Over the past week, Bangladesh’s import scrap market has showed little activity, as ongoing monsoon rains have slowed construction work and reduced the appetite for finished steel. Steel mills have stayed on the defensive, avoiding bulk purchases and monitoring downstream demand before making fresh commitments.
Most offers for shredded scrap in containers from Australia have been voiced at $370-375/mt CFR, the same as two weeks ago. Besides, according to sources, a few deals for small quantities have been signed for ex-Australia and ex-New Zealand shredded scrap at $370/mt CFR.
Offers for ex-Australia HMS I/II 80:20 have settled at $345-350/mt CFR, down by $5/mt over the past two weeks. Besides, offers for ex-New Zealand HMS I/II 80:20 have been reported at $350/mt CFR.
Furthermore, offer prices for ex-Hong Kong PNS scrap in containers have remained at $385/mt CFR level.
“With consumption muted and the outlook uncertain, most market players have chosen to hold back, keeping the overall tone of the market subdued,” a market insider told SteelOrbis.
In the bulk segment, ex-Japan H2 offers have been voiced at $340-345/mt CFR levels, the same as two weeks ago. Meanwhile, indicative offers for ex-US HMS I/II 80:20 scrap have remained stable at around $350/mt CFR, down by $5/mt on the higher end of the range over the past two weeks.