Import scrap offers to Bangladesh have remained relatively unchanged over the past week despite bearish sentiments in the global scrap market. Meanwhile, trading activity has remained weak considering the still low demand in the country and the depreciation of the national currency.
Accordingly, offers for ex-UK shredded scrap in containers to Bangladesh have been voiced at $540-550/mt CFR, the same as last week. “We heard several customers have managed to obtain discounts and booked ex-UK shredded scrap at $530-540/mt CFR last week, but the official offers are still high from most suppliers,” a market insider told SteelOrbis. Meanwhile, offers for HMS I/II 90:10 scrap from the UK and Ireland have been heard at $520/mt CFR, while ex-Australia HMS I/II 90:10 scrap has been offered at $525/mt CFR.
According to sources, however, a few deals for ex-South America HMS grade scrap in containers have been signed at $495/mt CFR this week.
Meanwhile, in the bulk scrap segment, no new bookings have been heard so far. The indicative offers for ex-US HMS grade scrap in bulk have been voiced at around $515-530/mt CFR, the same as last week, though with limited offers available.
In the meantime, the 10-16 mm rebar price in Bangladesh has been relatively stable this week and is available at around BDT 85,500-86,500/mt ($972-983/mt) ex-warehouse, but, according to market insiders, deals are still very rare due to slow demand in the construction sector.
