Bangladesh: Imported scrap prices pick up in recent trades

Bangladeshi imported scrap prices have increased significantly this week, following a Turkish scrap price uptrend. Imported scrap prices to Turkey have increased sharply in recent deep-sea bulk bookings, SteelMint learnt from its market sources.

Two bulk scrap deals reported from Japan last week

• Offers for Japanese busheling scrap in bulk are reported at around $335/t CFR Chittagong basis, in total up by around $15-20/t  since the beginning of Aug ’20. However, no significant deals were concluded this week.
• Two bulk cargoes of Bushelling from Japan consisting of 15,000 t and 20,000 t were reportedly booked by a mill at around $330-333/t CFR level towards the end of last week.
• Fresh offers for US shredded scrap in bulk stand at around $325-330/t CFR Chittagong basis, up by $10-15 in last two weeks.
  
  

Containerized scrap offers for Bangladesh up

• SteelMint’s assessment of containerized shredded 211 scrap from UK/European origins increased significantly and stand in the range of $337/t CFR Chittagong.
• Nevertheless, few suppliers have currently quoted for containerized shredded in the range of $335-340/t for Uk/Europe origin.
• HMS 1&2 (80:20) from Uk/Europe is being offered in the range of $310-317/t CFR Chittagong level.
• Few deals were concluded for Dubai origin HMS 1 at around $312/t CFR level, during the last week’s closing.
• HMS 1&2 (80:20) from Brazil is being quoted at $310-315/t CFR level by suppliers, however, deals have not reported at this level.
• PNS from Brazil is being sold at $323/t CFR level.
• Offers from Australia mostly absent this week due to low scrap availability with yards amid slow production activities in ongoing pandemic lockdown.

Bangladesh domestic rebar prices remain stable  

Domestic rebar prices remained firm. Yet, end consumers are slightly confused at this moment when rebar prices observed continuous fluctuations in the market. Some contractors will get new funds by the mid of Sep ’20 to resume their construction work.

• Rebar prices remained firm at BDT 50,500-51,000/t exw Dhaka.
• Billet prices in Dhaka region stand at BDT 41,500/t exw Dhaka in terms of credit payment, while in credit payment it goes up to BDT 42,000/t exw Dhaka level.
• Local shipyard scrap price is being quoted at BDT 30,500-30,800/t ex yard Chittagong.