Bulk scrap offers to Bangladesh increase by $40/t w-o-w

Bulk scrap offers to Bangladesh have moved up by $35-40/t on a weekly basis, credible sources reported to SteelMint. US west coast suppliers are quoting HMS 1&2 (80:20) at $500/t CFR Chittagong, while H2 bulk scrap offers from Japan stands at $485-490/t CFR Chittagong levels. Buyers have adopted ‘wait & watch’ approach before placing fresh bookings citing sharp hike in offers.