Shredded scrap prices in Bangladesh exceed $400/mt CFR amid tight supply

Friday, 04 December 2020 15:20:19 (GMT+3)   |   Istanbul
       

Prices for imported scrap in containers have surged in Bangladesh over the past week as demand in the market has still faced big problems amid tight container availability and scrap supply. No new deals for bulk scrap have been reported so far and offers have also come closer to $400/mt CFR.

Over the past week, deals for ex-EU shredded scrap in containers were reported at $405/mt CFR in the middle of the week, while negotiations have been heard at $405-407/mt CFR by the end of the week. This means prices for shredded scrap have added $25/mt from last week and there is still some possibility for them to go up further. “It is true that the availability is very low, so prices are skyrocketing,” one source said.

Also, offers for containerized HMS I/II 80:20 scrap have been reported at $390/mt CFR, while the bid price level has been at $375-380/mt CFR for South American scrap. The current workable price level for HMS I/II 80:20 scrap is $380/mt CFR, which is $20/mt above the previous deals.

In the bulk scrap segment, prices in Bangladesh have also posted sharp rises recently, as demand is expected to return soon in the current situation when the container shortage is not expected to be resolved very soon. Offers from the US for HMS I/II 80:20 by bulk have been at $395/mt CFR this week, up by $25/mt on average from the last week’s level. No new deals have been reported so far.


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