Imported scrap trades to Bangladesh witnessed improvement this week, with deals of around 6,000t getting booked via containers in the last 4-5 days, in addition to the bulk cargo from Japan earlier in the week. Prices mostly remained stable on a weekly basis, as buyers are still cautious of larger quantity bookings, while the number of global offers witnessed an increase.
SteelMint’s assessment of Shredded scrap in containers from Europe and North America remains at $300/t CFR Chittagong, while a few bookings for Shredded from UK and South Europe were observed at around $300/t levels. Offers also remain at around $300-302/t level presently. In bulk from the USA, Shredded offers are around $300-305/t CFR, with buyers bidding around $ 295-296/t CFR levels.
HMS 1&2 (80:vv20) was sold at around $265/t CFR from South American origins, with a Chittagong based mill buying 2,000t at the said price, while offers ranging from $265-267/t CFR from Brazil and close to $272-273/t CFR from Australia. Dhaka based mills bid at $265/t for HMS (80:20).
HMS 1&2 (90:10) from Australia was booked at $270/t at last week closing, while fresh offers for the same now stand close to $280/t and above. HMS 1 from Australia and other origins are now being offered at around $ 285-290/t CFR. Buyers’ bids for HMS 1&2 (90:10) and HMS 1 were observed at around $ 270-275/t and $275-280/t respectively.
A deal of P&S in containers from Brazil was also concluded at $305/t CFR Chittagong, while offers for P&S from most origins stand at $300-305/t CFR level presently.
10,000t Japanese origin busheling scrap booked – Earlier in the week, a batch of 10,000 t of Japanese bushelling scrap was booked to a Chittagong based steelmaker, at $ 303/t CFR Chittagong, lower price than current market levels.
Local shipyard scrap prices reported stable – Meanwhile, local shipyard scrap prices remain almost stable at around BDT 28,500-29,000/t ex Chittagong (inclusive of all taxes), while market expects prices to move down later this month, on sharp fall in prices of scrapped vessels booked recently by ship recyclers. In comparison to this, pre-lockdown price levels were around $ 32,000-32,500/t ex Chittagong.
Leave a Reply