Bangladesh: Limited offers continue to push imported scrap offers
...
Limited offers and increased buying inquiries have pulled up imported scrap prices further in Bangladesh. Imported scrap prices have moved up by $20-25/t w-o-w on tighter supplies.
Bulk offers for US origin Shredded are heard at $400/t CFR level. Customers are bidding close to this level. Some deals are likely to get concluded as buyers are actively inquiring for cargoes for restocking, shared a trader with SteelMint.
Limited offers from Japan were heard this week. SteelMint's assessment for bulk Japanese H2 stands at $ 373/t CFR Chittagong level, up by $15 w-o-w.
Recent containerised offers and trades-
- In a recent deal, a Bangladesh based steel mill has booked a decent quantity of PNS and HMS 1 from UK at $415 and $402/t CFR level respectively.
- EU origin shredded (2,000 t) and Australia origin HMS 1&2 (80:20) (4,000 t) has been sold recently at $400/t and $375/t CFR Chttagong basis respectively.
- UK/Europe origin shredded is being offered at around $400-405/t CFR Chittagong, moving up considerably by $20 w-o-w.
- Whereas, HMS 1&2 (80:20) price increased by $23 on a weekly basis and is being quoted at $385-390/t CFR Chittagong level.
- Fresh offers for HMS 1 now stands at $395-402/t CFR and
- UK/EU origin PNS is being traded at $ 410-412/t CFR level
Mills continue to book Indian sponge iron - An eastern India based trading company has concluded an export deal for around 6,000 t sponge iron for Bangladesh a couple of days back. The deal has been concluded at $357-359/t CPT Benapole for end Dec'20- early Jan'21, sources shared with SteelMint.
Bangladesh mills raise rebar offers - Steel mills in Bangladesh have increased rebar prices by BDT 2,000/t over a week, following a global scrap price uptrend. Current rebar offers are heard at BDT 62,000/t exw. Hike in raw material prices continues to push domestic steel prices.
