Bangladesh: Imported Scrap Offers Uptick

Imported scrap offers to Bangladesh moved up slightly this week, while trades improved in comparison to last week with few bookings being reported, SteelMint learned from market participants. However significant trades were not reported so far this week.

SteelMint's assessment for containerized Shredded scrap from UK, Europe and North America now stands range-bound at USD 300/MT, CFR Chittagong, widening the range USD 3-5/MT in comparison to last week's report.

Few deals for shredded were reported at USD 293-295/MT CFR this week, however, most global suppliers are now offering at over closer to USD 300/MT levels now, even as some resistance from buyers' side continues.

HMS 1 offers from European and Australian origins remain at around USD 285-290/MT CFR Chittagong, while HMS 1&2 (80:20) offers varied as per origin. European HMS 1&2 (80:20) were being offered at around USD 285/MT, however, material from Australian as well as South American material was reportedly traded at around USD 275-285/MT CFR, with several bookings being concluded at these prices.

P&S scrap offers observed a hike this week, currently standing at around USD 305/MT CFR, even as buyers were reluctant on low demand.

Local shipyard scrap prices remained mostly stable as compared to last week when it had dropped on low demand from mills. It was reported that few local scrap suppliers went on strike this week, protesting against recent govt policies