Interest in import scrap purchases has revived in Bangladesh. Last week, one bulk cargo from the US was traded at a stable price level compared to the previous booking, but recently bids have been heard at lower levels.
A contract for 32,000 mt of shredded scrap from the US West Coast was signed at $280/mt CFR last week. This deal price level is in line with the previous booking. As SteelOrbis reported on June 23, a cargo of 37,000 mt of scrap from the US West Coast was sold to Bangladesh, in which 13,000 mt of HMS I/II 80:20 was priced at $275/mt CFR, while 24,000 mt of shredded scrap was priced at $280/mt CFR.
Nevertheless, bid prices have been heard at slightly lower levels this week. One mill claimed that there has already been a sale of HMS I/II 80:20 scrap at $270/mt CFR Bangladesh, but this has not been confirmed by the time of publication.
The workable price level for shredded has been at $275/mt CFR recently. An offer for shredded scrap from Europe has been heard at $280/mt CFR, but it has failed to attract any interest.
