Imported scrap offers to Bangladesh remained limited and did not witness an uptrend, unlike the prices to other global markets, due to very limited interest from the buyers who are preferring more of local scrap, on better economic viability.
HMS 1&2 (80:20) offers from Australia were witnessed at just USD 254-255/MT CFR Chittagong level, considerably low given the current global market, however, even these offers were not being readily accepted by the buyers, who are not in a need of any urgent restocking, due to low ongoing production levels at their mills, as well as cheaper alternative of Shipyard scrap, for the time being.
Brazil origin HMS 1&2 (80:20) offers remained at around USD 250/MT CFR, while very limited European origin HMS offers were witnessed due to very aggressive buying by Turkish mills recently at increased prices. HMS 1 offers were observed at around USD 268/MT CFR Chittagong.
Shredded offers mostly remained out of the market on very low bids by mills and other markets paying better, but a few offers heard in the market were at around USD 286-290/MT CFR Chittagong were assessed to be very low considering prices in other South Asian markets.
” Currently Pakistani buyers are paying USD 280/MT and above for Shredded 211 with similar offers to Nhava Sheva too, and when Indian buyers also return to the market soon, prices to Bangladesh also are bound to be impacted” shared a prominent global trader.
Local shipyard scrap (higher quality) is being offered at BDT 28,500-29,000/MT ex Chittagong inclusive of all taxes, with decent trades being observed.
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