Imported scrap offers to Bangladesh have increased over a week, following a global price uptrend. Despite hike, inquiries for bulk scrap cargo bookings have also increased in recent days, SteelMint learnt from sources. Bangladesh based steel mills are hopeful that finished steel demand may recover after the ongoing rains and are thus actively inquiries for bulk scrap cargoes for end Oct’20 – early Nov ’20 deliveries, SteelMint learnt from a market participant.
Few Bangladeshi mills are actively bidding for bulk cargoes for Sept ’20 shipments. In last ten days, around 60,000 t of Japanese bulk scrap cargoes have booked in the range of $282-285/t, CFR shared a global trader.
- Current offers for USA shreeded scrap to Bangladesh stand at around $ 310-315/t CFR Chittagong
- Few offers for bulk bushelling scrap are reported at around $310/t CFR level
- Offers for HMS 1&2 (80:20) in containers from Australia stands at around $ 288/t CFR level
Domestic steel market, including yards, are still closed on Eid-holidays and labour shortage. On the other hand, finished steel market not supportive at the moment due to heavy rains and floods in most parts of the country, which are interrupting major construction projects as well as steel mill productions. Hence, local shipyard scrap available in limited quantity with yards, SteelMint learned from market participants.
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