Import offers to Bangladesh have continued to move down following bearish sentiments all over the world, though lower offers for scrap have not attracted buyers in Bangladesh considering the still low demand in the country due to Ramadan.
Accordingly, in the containerized scrap segment, most offers have decreased over the past week. Offers for ex-UK shredded scrap have been reported at $615-620/mt CFR, down by $40/mt over the past week. Ex-UK HMS grade scrap has been offered at $600/mt CFR. Besides, offers for Australian HMS I/II 80:20 scrap have been reported at 620/mt CFR, while customers’ bids have already been voiced at $590-595/mt CFR.
“Most customers will come back to new bookings after the Eid holiday in the country,” a market insider told.
Meanwhile, offers for ex-US scrap in bulk have dropped to $600-610/mt CFR, compared to $625/mt CFR at the end of last week. However, even despite the significant discount provided by sellers, no deals have been reported so far. “We hope new-ex-US bulk offers will reach $575-585/mt CFR next week as Vietnam is also refusing to accept the $575/mt CFR level,” a market participant told SteelOrbis.