Scrap prices in Bangladesh keep rising due to shortage

Tuesday, 01 December 2020 14:37:22 (GMT+3)   |   Istanbul
       

A severe container shortage and surging freight rates have continued to push up import scrap prices in Bangladesh. No new bulk sales have been reported lately, while offers have moved up sharply, following the trend in Asia.

Offers for ex-US HMS I/II 80:20 scrap by bulk have risen to $365-370/mt CFR and some sources said they have even increased to $375/mt CFR amid the strong market in Turkey and higher bids in Vietnam lately. But customers from Bangladesh have not been willing to accept anything above $360/mt CFR so far, which is, however, $15/mt higher than in the previous deal reported on November 20.

According to sources, in the container scrap segment, late late week HMS I/II 80:20 from Brazil was traded at $360/mt CFR for December-January shipment, up by $10/mt from the previous booking level. The new targeted level is $365/mt CFR minimum. “Due to the shortage of containers there is a big problem for shipment of cargos,” a source said. The prices for containerized shredded scrap have surged to $380/mt CFR.


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