Bangladesh: Imported Scrap Prices in Containers Fall on Low Buying Interest

Imported scrap prices to Bangladesh have plunged sharply over the last week on sharp fall in the global market, while buyers are anticipating further drop in offers and remained less active in the market. Over the last one month, prices have plunged by USD 22-25/MT successively. Trades have slowed again after decent activity last week, while HMS scrap was preferred on more viability.

SteelMint's assessment for Shredded Scrap in containers from Europe/North America stands at USD 295-300/MT CFR Chittagong, down by USD 10-15/MT against last week. Few offers for Brazilian and South American origin Shredded were reported at USD 290/MT, while offers for European material stood in the range of USD 295-300/MT CFR.

Towards closing of last week, a few bookings of Shredded were concluded at USD 305-306/MT, while not much volume has been traded at the prevailing offer as buyers are targeting lower levels. Many mills were reportedly targeting USD 285-290/MT for Shredded on the expectation of downward movement in the global market.

HMS 1 offers now stand in the range of USD 280-283/MT CFR from different origins and few bookings were earlier reported at USD 285/MT CFR for HMS 1 from Aus/NZ origin. HMS 1&2 (80:20) was sold decently at around USD 275/MT CFR while fresh offers stand between USD 270-275/MT CFR depending on origin.

"We booked 2000 MT of HMS 1&2 (80:20) at USD 275/MT recently, however now some buyers are targeting USD 265-270/MT for HMS (80:20) " shared a steelmaker from Dhaka.

P&S offers were reported at around USD 300/MT CFR from Brazil, observing successive decline every week.