Aiming to secure feedstock, Bangladesh-based scrap buyers have remained highly active in the import scrap market this week. However, customers have been facing certain challenges while searching for cargoes. “The market is heating up in terms of demand. We have much firm buying demand from our regular and listed clients. But we are very limited with regard to real trades due to shipping costs for Chittagong,” a Bangladeshi trader commented. “Last week, we had received inquiries for about 10,000 mt, but we sold only 3,000 mt. It is really hard to get a quote for Chittagong from our regular suppliers,” another trader based in Bangladesh stated. Meanwhile, rare offers for shredded scrap in containers to Bangladesh have reached $575-580/mt CFR, up $10/mt within the past week.
A small lot of ex-UK shredded scrap in containers was traded at $570/mt CFR at the beginning of the current week. A cargo of ex-UK/EU HMS I/II (80:20) has been traded at $525/mt CFR, SteelOrbis has learned.