Import scrap offers to Bangladesh have remained relatively unchanged over the past week. Meanwhile, trading activity has remained weak with only a few deals reported this week considering the still low demand in the country and the depreciation of the national currency.
Accordingly, several small deals for ex-UK shredded scrap in containers to Bangladesh have been reported at $470/mt CFR, though most offers have remained at $480/mt CFR, the same as last week. Meanwhile, offers for ex-UK HMS I/II 80:20 scrap have been voiced at $455-460/mt CFR, up by $5/mt week on 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 $410/mt CFR, the same as last week. According to Bangladeshi customers, only a few mills are asking for scrap in bulk but “they have not got any good offer from any one so far”. “Buyers are ready to pay $400/mt CFR on average for HMS grade, shredded and bonus scrap,” a market insider told SteelOrbis.
In the meantime, the 10-16 mm rebar price in Bangladesh has been relatively stable this week and is available at around BDT 80,000-84,000/mt ($844-886/mt) ex-warehouse, but, according to market insiders, deals are still very rare due to slow demand in the construction sector.