Bangladesh: Imported Scrap Market Remains Silent in Absence of Active Bookings

Imported scrap trades to Bangladesh have remained slow for several weeks now, and presently the market is witnessing little to no interest from the buyer's side, on less viability of imported scrap due to high global offers amid falling domestic steel prices. Most US and European suppliers are not offering to Bangladesh, due to low bids and good sales in other markets.

SteelMint's offers for containerized Shredded scrap from UK/Europe currently stands in the range of USD 320/MT, CFR Chittagong, up by USD 17-20/MT W-o-W. However, no buying interest for the same was observed from the Bangladeshi steelmakers. No major Shredded bookings in containers has been reported for some time now.

The only origins offering HMS scrap to Bangladesh are Brazil and Australia/New Zealand. Brazil origin HMS 1 offers stand at USD 290-295/MT CFR, while Australian suppliers offered at around USD 295-300/MT CFR. HMS 1&2 (80:20) was offered at around USD 278-280/MT CFR from Brazil and USD 282-285/MT from Australia, amid limited inquiries.

P&S offers of USD 310/MT too witnessed negligible traction from the buyers. Only LMS bundles were traded in good quantity, with offers ranging from USD 251-256/MT CFR and sales reported for around USD 255-256/MT CFR.

Local scrap prices remain stable - Amid decent sales at favourable prices, especially amid high imported scrap offers, local Ship yard scrap prices remained stable on a weekly basis.

Local shipyard melting scrap was reported at around BDT 29,000/MT (USD 341) ex Chittagong inclusive of taxes. Ship plates' offers declined sharply W-o-W and were sold at BDT 37,000-38,000/MT (12-16mm) ex Chittagong.