Imported HMS Scrap Trades to Bangladesh Improve

Imported scrap trades to Bangladesh slightly picked up this week after the global market resumed, with HMS scrap witnessing some trades. However buyers majorly remained away from making active bookings particularly for Shredded scrap on the slow domestic market.

A Dhaka based mill shared, we booked 2000 MT of HMS 1&2 (80:20) from Chile at USD 287/MT CFR, with offers around USD 287-290/MT, while several mills were in negotiation for Australian/New Zealand origin HMS 1&2 (80:20) which are being offered at USD 295/MT CFR.

HMS scrap was traded in decent quantity so far this week, especially from Chile and other South American origins. Other grades like HMS 1&2 (90:10) and HMS 1 from Australia were being offered at USD 300/MT and 305/MT CFR respectively.

SteelMint's price assessment for containerized shredded scrap from UK/Europe stands in the range of USD 330-335/MT, CFR Chittagong further up by USD 5-8/MT against last week's report. Buyers remained disinterested in booking shredded at these price levels, on less viability due to slow domestic market.

P&S scrap offers from Brazil were reported at USD 330/MT this week, however, buyers majorly remained quite.

Ship breaking scrap offers stabilized a bit after rising sharply last week on increased sales. Currently, ship yard melting scrap is being offered at BDT 30,500-31,000/MT ex Chittagong while Ship Plates for 12-16mm was being sold at around BDT 39300-40500/MT ex Chittagong.

As per sources, in the previous 2 weeks, domestic billet and steel sales had shown some improvement, however this week market sentiments have turned dull.