Prices for imported scrap have increased visibly over the past week in Bangladesh and this has been confirmed in the latest bulk ex-US scrap deal this week. Containerized scrap prices have also been following an uptrend as the shortage of containers has still persisted.
According to market sources, a cargo of HMS I/II 80:20 scrap from the US with an estimated tonnage of around 30,000 mt has been booked at $335/mt CFR Bangladesh. This price level is $5-10/mt higher than the price assessment last week, sources have said, and much higher than the previous ex-US contract at $321/mt CFR for a mixed cargo in late October. The main reason for the increase of demand for scrap in Bangladesh and the visible price hike has been the shortage of material, which is expected only to worsen in the coming month due to seasonal factors.
One lot of H2 scrap from the Kanto Tetsugen export tender in Japan has been sold to Bangladesh this week, with the price level estimated by market sources at around $337/mt CFR. It has been assessed as pretty high by most market sources, but it reflects stronger demand for scrap in Bangladesh lately.
In the container scrap segment, prices have also continued to go up. A lot of 1,000 mt of ex-US and ex-Canada shredded 211 scrap has been traded at $347/mt CFR by the end of the week, which is about $7/mt above last week’s level.