SteelMint learned in recent conversations with industry participants that imported scrap offers to Bangladesh remained high following global levels, however, trade activities being reported very limited as price margin between finish steel and scrap costing remained low on high imported scrap offers. Also, finish steel prices in the local market reported unaltered amid limited trades this week.
According to sources, supplier yards based in Europe, UK and USA are quoting containerized Shredded scrap now in the range of USD 355-360/MT, CFR Chattogram. Most of the buyers stand reluctant to buy amid disparity in expectation and offers at the moment.
SteelMint’s’ price assessment for Shredded scrap edged up marginally by USD 5/MT W-o-W as against the last report of USD 350-355/MT, CFR. Limited trades for containerized Shredded sold at USD 352-355/MT, CFR Chattogram.
HMS scrap prices move up further – HMS 1 from South Africa traded at around USD 350/MT, CFR while HMS 1&2 (80:20) from South American origins like Venezuela, Brazil and Chile assessed in containers in the range USD 345-350/MT, CFR Chattogram for 45 days delivery.
Price assessment of HMS 1&2 (80:20) from Europe and UK origin stands at around USD 340-345/MT, CFR up USD 5/MT W-o-W.
Domestic scrap remains a preference – Local scrap and ship cutting plate prices in Bangladesh increased by BDT 500-800/MT on a weekly comparison. Shipyard scrap selling prices are reported in the range BDT 37,500-38,000/MT, (USD 447-453) ex-Chattogram while local HMS scrap heard stable at around USD 35,500/MT (USD 423), ex-plant basis inclusive of local taxes. On narrowing the price margin between local and imported scrap, few steel mills prefer buying local scrap over imported.
Ship cutting plate prices assessed at around BDT 42,300-42,400/MT for 16 mm and BDT 43,300-43,400/MT for above 20 mm thickness.
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