The shortage of containers observed in the global market lately has continued to cause a further increase in scrap prices to Bangladesh. Since the beginning of the current week, offers for shredded scrap from Europe and the US in containers to Bangladesh have risen by $10-15/mt to $550-560/mt CFR. Although overall demand in Bangladesh has remained moderate, deals for scrap in containers have been concluded at new price levels. “Not many buyers are ready to pay current prices. Those buyers who need to replenish their stocks ahead of the monsoon do not have any other option but to accept the levels,” a source stated.
Accordingly, this week 2,000 mt of shredded scrap from the US has been sold at $555/mt CFR, SteelOrbis has learned. This is up $16/mt from the deal reported for import shredded earlier this week. A contract for 4,000 mt of ex-UK HMS I/II 90:10 in containers has been signed at $537/mt CFR, while 3,000 mt of ex-EU HMS I/II 80:20 has been booked at $532/mt CFR.
In the middle of the current week, a firm offer for 1,000 mt of ex-Singapore PNS was heard at $565/mt CFR Chittagong, which corresponds to the level of prices fixed at the end of previous week. As SteelOrbis reported previously, a lot of 2,500 mt of ex-Singapore PNS was booked to Bangladesh at $562/mt CFR.
No fresh offers for scrap by bulk to Bangladesh have been heard by the time of publication. Meanwhile, in the middle of last week offers for HMS I/II 80:20 scrap by bulk from the US were voiced at $535-540/mt CFR for shipment at the end of July-beginning of August, while shredded scrap of the same origin was said to be available at $540-545/mt CFR, as SteelOrbis reported earlier.