- Recyclers cautious over HKC upgrade concerns
- Larger mills avoid aggressive scrap purchases
Bangladesh’s imported scrap prices witnessed a drop of up to $5/tonne (t) across grades amid selective buying from major mills post-Eid holidays.
Domestic scrap prices declined amid subdued market activities earlier last weekend. However, signs of improved rebar sales have lifted sentiment this week prompting some mills to raise rebar prices by BDT 500/t.
BigMint’s weekly assessments
- European-origin HMS (80:20) was down by $2/t w-o-w at $373/t.
- US-sourced HMS (80:20) bulk prices stood at $380/t, dropping by $4/t w-o-w.
- Japanese-origin H2 bulk prices stood at $367/t CFR Chattogram, down by $5/t w-o-w.
- European-origin containerised shredded inched down by $4/t w-o-w to $393/t.
Market commentary
A Dhaka-based scrap importer shared,”Rebar sales have picked up well post-Eid, and we’ve raised prices by BDT 500/t. Rebar is now at BDT 82,000/t ($673/t) in Dhaka, while at BDT 85,000-86,000/t ($698-706/t) by Chattogram-based mills. Domestics scrap prices remain downwards– HMS at BDT 55,000/t ($452/t) and PNS at BDT 56,500-57,000/t ($464-468/t). Before Eid, we booked 10,000 t of shredded from Australia, and after Eid, we bought 500 t of shredded from Hong Kong at $385/t CFR.”
Latest offers for PNS from Hong Kong stood at $390-395/t, shredded (Malaysia/Singapore) at $400/t, HMS 80:20 (Australia) at $370/t, and shredded (Australia) at $385/t.
An Australia-based scrap supplier commented, “We’re offering shredded at $385-390/t and HMS 80:20 at $365/t CFR Chattogram. HMS 90:10 is around $370/t –some larger lots are moving to selective buyers with specific demand. East Asian PNS deals were possible at $385-388/t, but current offers have moved up to above $390/t.”
A Chattogram-based scrap importer shared, “Rebar prices are currently at BDT 82,000-83,000/t ($674-682/t) in Dhaka and BDT 85,500-87,000/t ($703-714/t) in Chattogram. Domestic scrap remains active, with shipyard PNS at BDT 57,000-57,500/t ($469-473/t) and HMS at BDT 55,500-56,500/t ($456-464/t) ex-yards. Most of the HKC shipyards are functional, but imported scrap flow has been slow lately, leading Dhaka-based buyers to rely more on domestic sources. Bigger mills with comfortable inventories are holding back from aggressive purchases. Even with improved rebar sales, local scrap buying prices may see a downward pressure.”
Bangladesh ship-recycling market
Ship recycling activity in Bangladesh dipped during Eid as yards paused operations. Steel plate prices stayed weak for the seventh month, and the weakening BDT alongside tariff concerns kept sentiment cautious. Local offers dropped by $5-10/LDT, despite limited tonnage supply. Uncertainty over HKC compliance deadlines also weighed on the market. As a result:
- There were no fresh tonnage arrivals; only older vessels like Three Star seen.
- Chattogram Port intake was at 60,529 LDT, slightly down w-o-w
- Recyclers are cautious amid 37% tariff fear and HKC upgrade pressures.
Outlook
Market activity is expected to improve gradually with rebar demand picking up in key consumption hubs. However, industry participants remain cautious, expecting only a modest post-Eid revival. Scrap prices may see a mild rebound next week amid global market uncertainty.
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