Imported scrap offers to Bangladesh have remained mostly stable this week as offers have remained firm on account of tightness in supply from most of the global yards. Trades have slightly improved against last week although no aggressive growth in buying activities was seen.
SteelMint’s price assessment for Shredded scrap in containers from UK is presently stands at USD 295/MT, CFR Chittagong more or less unchanged from the last week’s report, with few bookings via containers reportedly being concluded at around USD 296-297/MT CFR.
No fresh Bulk cargo Booking has been reported in the last couple of weeks.
HMS scrap trades saw slightly more activity this week, with bookings of HMS 1&2 (80:20) from Brazil getting concluded at USD 275/MT, CFR and Australian origins at USD 280/MT CFR respectively. Trades for few thousand MT of HMS 1&2 (90:10) from Chile origin were also reported to be concluded at around USD 280/MT CFR. HMS 1 offers stand around USD 282-285/MT CFR.
Few trades of LMS bundles were witnessed at USD 255/MT CFR. P&S scrap offers South American origins rose up slightly to around USD 305/MT CFR Chittagong.
Local scrap prices improve – On account of further improvement in sales as well as strong international scrap market, local scrap has received much-needed support, inching up the ship yard scrap prices in the Chittagong market. Currently, the offers for shipyard scrap stand at BDT 31,000/MT ex Chittagong. With many ship recyclers booking ships at higher prices this last week, the market expected to remain mostly at these levels for the rest of the month.
Leave a Reply