- Bangladesh mill secures 15,000 t in Kanto tender
- Ship recycling yards focus on HKC upgrades
Bangladesh’s imported scrap trades continued to remain slow even as offers from Europe, Australia, and the US edged up, as suppliers were not interested in keeping their margin lower in view of freights and material availability in general.
In the bulk scrap market, Japan’s H2 was offered at $365-370/t after the rise in bids at the Kanto tender, although the bid levels are at $355-360/t, while HS at $388-392/t continues to see limited buyer interest.
US-sourced HMS 80:20 bulk prices were also up by $4/tonne (t) w-o-w; as US suppliers maintained a firm stance, new offers in the market were heard at around $380/t, although interest continues to remain at around $370/t CFR.
Imported scrap prices remain firm on a CFR Chattogram basis, with non-negotiable offers heard at $385/t for Hong Kong oversized PNS, $400/t for South Korean bushelling, and around $375/t for Australian 90:10. Buyers remain cautious but are actively assessing procurement options amid stable domestic market conditions.
BigMint’s weekly assessments
- European-origin containerised shredded inched up by $2/t w-o-w to $385/t.
- European-origin HMS (80:20) increased by $3/t w-o-w to $370/t.
- US-sourced HMS (80:20) bulk prices rose by $4/t w-o-w to $374/t.
- Japanese-origin H2 bulk prices stood at $363/t CFR Chattogram, increasing by $5/t w-o-w.
Market updates
Bangladeshi mill secures 15,000 t in Kanto tender
A Chattogram-based mill secured 15,000 t of H2 scrap in Japan’s March Kanto scrap export tender at JPY 44,226/t ($301/t) FAS, as bids rose by JPY 1,026/t ($7/t) m-o-m. CFR Chattogram prices were assessed at $360-365/t, including freight of $60-65/t.
The price jump, the first in two months, was supported by higher global scrap prices and strong demand from Bangladesh and Vietnam.
“Buyers continue sourcing from nearby regions, with offers for Australian shredded at $375-380/t and Australian 90:10 at $362-365/t. Philippines GI bundles are available at $332-335/t, while Hong Kong material is unworkable above $390/t. However, no major transactions have taken place in the past three-four days as LCs remain on hold, with openings expected post-Eid,” said a major Europe-based trader.
Rebar tags were range-bound based on limited project segment demand and slow sales in the retail/end-user segment.
A Chattogram-based trader reported that domestic rebar prices in Dhaka were steady at BDT 81,500-82,500/t ($741-750/t), with an addition of BDT 3,500-4,000/t ($32-36/t) for Chattogram.
Billet prices remain stable at BDT 71,500-72,500/t ($650-660/t) exw, while scrap prices are hovering at BDT 55,000-57,000/t ($500-518/t).
Ship-breaking market slowdown shifts focus to HKC upgrades
The Chattogram ship recycling market remained steady in February, with nine vessels totalling 98,673 LDT arriving or awaiting delivery this week, slightly down from 105,088 LDT last week. These arrivals, mostly from January deals, have kept yards operational despite limited tonnage availability. Domestic steel plate prices held firm at $529/t, while the Chinese-owned bulker SEA WISE (5,533 LDT) was sold at $420/LDT, with Gadani as the delivery option.
Amid the slowdown, recyclers are shifting focus to HKC yard upgrades ahead of the June compliance deadline, providing short-term employment and sector stability.
Outlook
As per market insiders, continued firm global scrap prices are likely to keep fresh offers elevated for Bangladesh. While trade is sluggish, partial relaxation in LC availability might support small-scale deals. Demand is expected to recover post-Ramadan amid restocking and seasonal construction activity.
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