- Import activity stalled for weeks amid financing constraints
- Mills avoid bulk bookings on sluggish construction demand
Bangladesh’s imported scrap prices witnessed mixed trends w-o-w. Heavy monsoon rains and sluggish construction demand kept trade subdued, with Chattogram-based mills remaining cautious and avoiding bulk purchases.
BigMint’s weekly assessments
- European-origin HMS (80:20) prices inched down by $1/tonne (t) w-o-w to $353/t.
- European-origin containerised shredded inched up by $1/t w-o-w to $374/t.
- Japanese-origin H2 bulk prices stood at $344/t, up by $1/t w-o-w.
- US-sourced HMS (80:20) bulk prices stood at $354/t, up by $2/t w-o-w.
Australian shredded workable levels were indicated at $370-375/t CFR, though some offers were quoted higher, near $380/t. PNS traded in the $378-384/t CFR range, with some inquiries heard at $380-382/t. Overall, fresh bookings remained limited, keeping market activity thin.
As per market insiders, import activity has been stalled for weeks, as banks remain unsupportive, restricting payment flows.
It is heard that a fresh bulk sale of around 30,000 t of HMS from the US West Coast was concluded at $352/t CFR for October shipment, offering a rare spot of activity in an otherwise subdued market.
Recent deals
- HMS 90:10 (Australia-origin): 2,000 t sold at $350/t CFR Chattogram
- HMS 80:20 (Australia-origin): 2,000 t sold at $346-347/t CFR Chattogram
- HMS mix PNS (UAE-origin): 500 t sold at $357/t CFR Chattogram
- H-Beam, oversize material (Hong Kong-origin): 1,000 t sold at $410/t CFR Chattogram
Bangladesh’s domestic rebar prices inched up w-o-w, with Dhaka rates at BDT 77,000-78,000/t ($633-641/t) exw and Chattogram at BDT 80,000-82,000/t ($657-674/t) exw.
Chattogram ship-breaking market stalls on weak demand, currency woes
Bangladesh’s ship recycling market stayed stagnant, with no arrivals or deliveries this week. Weak scrap demand, monsoon disruptions, and a depreciating taka weighed on sentiment, while recyclers focused on Hong Kong Convention (HKC) yard upgrades amid sluggish domestic steel sales.
Steel plate prices held steady, and diverted Far East units kept Chattogram unattractive.
Port arrivals fell to 29,223 light displacement tonnes (LDT) last week from 51,639 LDT in the previous one.
Outlook
Bangladesh’s scrap market is likely to remain subdued in the near term, with weak construction demand, payment hurdles, and currency pressure limiting fresh imports. A few spot deals may emerge, but large-scale activity looks unlikely until banking support improves.
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