Bangladesh: Imported scrap prices remain range-bound in recent trades

Imported scrap trades in Bangladesh slowed down this week due to dull finished steel demand in domestic market. Buyers and steelmakers are resisting to pay higher prices for imported scrap as domestic market sentiments not supporting the current scrap offers, shared steel mills.

On the other hand, global scrap offers have rebounded with Turkish mills booking a series of deep-sea cargoes at increased prices.

SteelMint's assessment of containerized shredded 211 scrap from UK/European origins remained firm at $325/t CFR Chittagong, unchanged w-o-w. However few offers were heard at around $330/t CFR. Indicative bids stand at $315-320/t CFR level.

Firm offers

• Offers for HMS 1&2 (80:20) from UK/Europe were in the range of $305-310/t CFR Chittagong.
  
  
• Australian HMS 1&2 (80:20) is being offered at around $300-305/t CFR level.
  
  
• Japanese H2 in bulk is being offered in the range of $305-308/t CFR level.
  
  
  
  

Bangladesh domestic steel market overview- Domestic steel market observed slow demand as construction activities are yet to completely resume, however, prices remained mostly firm as compared to last week.

• Rebar prices remained firm at BDT 51,000-51,500/t exw Dhaka
  
  
• While billet prices in Dhaka region have fallen over one week and stands at BDT 41,000-41,500/t exw Dhaka.
  
  
• Local shipyard scrap prices have come down to BDT 30,000/t ex yard Chittagong