On February 20, SteelOrbis reported that scrap import offer prices from the UK and EU to Bangladesh reportedly decreased to $347-352/mt CFR for containerized shredded scrap while at $338-342/mt CFR for containerized HMS I/II 80:20.
Sources inform SteelOrbis that “the overall Asian imported scrap market is observing limited trading.” Scrap import offer prices from the UK and EU to Bangladesh are now reportedly at $342-346/mt CFR for containerized shredded scrap while at $332-335/mt CFR for containerized HMS I/II 80:20. Shredded prices decreased $5/mt from the bottom of the previous range and $6/mt from the top of the same range. HMS I/II 80:20 decreased $6/mt from the bottom of the previous range and $7/mt from the top of the same range.
Sources report caution in transactions pending results from early March trades in major scrap source countries such UK and EU, but they also note the expectation by some buyers that scrap prices may have “hit bottom” and will likely remain relatively stable for the next several months.