Scrap prices in Bangladesh rise, customers restock before lockdown, holiday

Monday, 05 April 2021 17:17:45 (GMT+3)   |   Istanbul
       

Import scrap prices have increased in Bangladesh over the past week, which has been confirmed in a number of deals. Most customers have been restocking before the holiday.

According to sources, new deals for mixed cargoes of ex-US HMS I/II 80:20 and shredded scrap have been done at $470/mt CFR on average, up from $453-460/mt CFR in the previous deals done in the middle of March. There has been no confirmation of the total volumes sold, but sources have said that from two to four bulk cargoes were booked last week to Bangladesh. A firm offer for 28,000 mt from the major supplier from the US West Coast has been heard at $465/mt CFR for HMS I/II 80:20 and $470/mt CFR for shredded on April 5. “This $10/mt increase came after higher prices in Turkey and a jump in offers,” a source said. But “demand is not so good. From today, Bangladesh is on lockdown as the Covid situation is worse. Mills booked for restocking,” another source said. From April 5, Bangladesh has started a week-long lockdown with all shops and transportation stopping operations.

Starting from the second half of April, demand for scrap in Bangladesh will decline even more due to the month of Ramadan, according to sources.

In the container scrap segment, deals for shredded scrap were signed at $455/mt CFR, while some sources said that one contract was at $460/mt CFR. This means that prices have added $5-10/mt week on week. New offers for shredded scrap are starting from $470/mt CFR and up to $490/mt CFR.

After deals for import HMS I/II 80:20 in containers at $435-440/mt CFR last week, the offer level has increased to $445/mt CFR.


Similar articles

Mexican domestic scrap prices

28 Mar | Scrap & Raw Materials

Carbon and stainless scrap prices in Taiwanese domestic market - week 13, 2024

28 Mar | Scrap & Raw Materials

Turkey’s deep sea scrap prices stabilize at $385-390/mt CFR

28 Mar | Scrap & Raw Materials

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

US scrap market still expecting sideways pricing in April

27 Mar | Scrap & Raw Materials

Ex-US deep sea scrap prices to Turkey increase, ex-EU prices relatively stable

27 Mar | Scrap & Raw Materials

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Average local Chinese scrap prices rise amid tight supply after previous decreases

27 Mar | Scrap & Raw Materials

Import scrap prices in India move up, but low bids prevent deals

27 Mar | Scrap & Raw Materials

Baltic countries and Czech Republic seek EU ban on ex-Russia scrap imports

27 Mar | Steel News