Bangladesh: Imported Scrap Prices Steady, Market Expects Uptick

SteelMint learned in recent conversations with industry participants that imported scrap market in Bangladesh has remained stable in terms of prices so far, however, a recent increase in Turkey prices turn expectations to see upward pressure soon. On the other hand, finish steel and local scrap prices have been continuously firming up since the last couple of weeks in the local market.

Containerized Shredded scrap offers heard in the stable range of USD 330-335/MT, CFR Chittagong from suppliers in the UK, USA and Canada. SteelMints' price assessment for Shredded stands almost stable against the last weeks' report.

HMS 1 from Chile and Brazil is being offered majorly at around USD 320/MT, CFR. While HMS 1 from Australia traded at USD 330/MT, CFR and P&S scrap at around USD 345/MT, CFR Chittagong.

"Few offers are being quoted above USD 335/MT for Shredded from suppliers on the news of upward movement in the market, also participants expect markets to move up further during Chinese New Year holidays next month" shared a source.

HMS scrap also seems to have stabilized this week after correcting USD 5/MT towards closing last week. Price assessment of HMS 1&2 (80:20) from Europe and UK origin stands at around USD 305-310/MT, CFR. Average movement in containers observed in Bangladesh amid positive local fundaments.

Local scrap prices continued uptrend - Local shipyard scrap prices in Bangladesh continued upward trend on tight availability and firming local markets. Scrap prices now stand in the range BDT 37,000-37,500/MT, (USD 435-447) ex-works inclusive of local taxes.

Ship cutting plate prices remained range-bound on W-o-W basis and assessed at around BDT 42,200-42,400/MT for 16 mm and BDT 43,200-43,500/MT above 20 mm thickness.