Prices for import scrap in Bangladesh have kept moving down over the past week as demand has still been weak, while negative sentiment has prevailed in the global market.
The latest tradable price level for shredded scrap in containers has come to $465-470/mt CFR, down from a deal level at $475/mt CFR in the middle of last week and from $480/mt CFR in bookings for ex-EU material early last week. “Bangladesh is very quiet regarding booking materials. Buyers are anticipating more drops,” a local source said. Over the past two weeks, prices for shredded scrap in containers have lost $20-25/mt on average.
Early last week, a deal for ex-Australia HMS I/II 80:20 in containers was reported at $450/mt CFR, but the tradable level has already slipped to $440/mt CFR or below, according to customers.
In the bulk scrap segment, after offers had reached $490/mt CFR and above in the first week of February, weak sentiment has pushed the workable price level down to $470/mt CFR for now.