Sources inform SteelOrbis that after the global scrap price dip prior to June 1, shredded containerized scrap offers reached $375-385/mt CFR Bangladesh port publically with opportunity for further discounts of an additional $5/mt. Sources inform SteelOrbis that offer prices are now reportedly up at $385-390/mt CFR. This represents an increase of $10/mt from the bottom of the previous range and $5/mt from the top of the same range.
While prices have continued to trend stable for the past two weeks, a source notes limited interest due to market uncertainty in the import market and overall “instability injected by recent trade disputes.” The source further notes that the offer increases are primarily driven by global trends and not a shift in demand by Bangladesh scrap buyers.