- Scrap imports ease as local market remains steady
- Recyclers favour larger vessels; small LDT units largely ignored
Bangladesh’s imported ferrous scrap prices inched down w-o-w, while the domestic market may see some rebound as local scrap held steady at BDT 49,000-50,000/t ($402-411/t). Billet stayed volatile at BDT 65,000-68,000/t ($534-559/t), and rebar demand in Dhaka remained slow though prices held firm at BDT 75,000-76,000/t ($616-624/t).
BigMint’s weekly assessments
- European-origin HMS (80:20) prices inched up w-o-w at $352/t.
- European-origin containerised shredded inched down by $1/t w-o-w to $372/t.
- Japanese-origin H2 bulk prices stood at $342/t, dropping by $2/t w-o-w.
- US-sourced HMS (80:20) bulk prices dropped by $3/t t0 $352/t.
“As per the current market sentiment in Chattogram, billet is hovering around BDT 66,000/t, while rod is trading at BDT 76,000-78,000/t. Local scrap remains steady at BDT 48,000-52,000/t. In the import segment, Malaysia PNS is at $370/t CFR, shredded around $358/t CFR, and hollow bundle at $350/t CFR,” said a Chattogram-based trader.
“We have received HMS 90:10 from Australia at $345-350/t and PNS from Malaysia at $385-387/t. However, trades are not very active with very little response. Buyers are quoting PNS Malaysia origin at $370-375/t CFR Chattogram. In the local market, shredded scrap is at $360/t, HMS 1 at $347/t, and HMS 1&2 at $338/t, all of Australian origin, and an Australian-origin HMS 90:10 cargo (2,000 t) was sold at $345/t CFR Chattogram,” said a Dhaka-based market insider.
“Calculated from FOB, H2 offers are around $340-345/t CFR Chattogram. The recent market in Bangladesh has been slow, with HS Japan and Busheling from Malaysia indicative at $365-370/t and $380-385/t. HMS 80:20 bulk is offered at $355/t from the US, while buyers are asking $348-350/t CFR,” said a Japan-based trader.
Chattogram ship-breaking scrap demand softens as recyclers shun small LDT vessels. The market has slowed since September, with smaller units largely ignored due to stringent HKC compliance. Buyers are focusing on larger vessels, while LNG units see selective interest. Weak domestic demand and slow infrastructure spending keep recycled steel movement limited, with local plate prices steady at $519/t. Chattogram Port handled 44,802 LDT this week, up from 37,750 LDT previously.
Outlook: Bangladesh’s scrap market is expected to remain subdued, with buyers focusing on selective imports. Local prices are likely to stay steady as weak steel demand and slow infrastructure activity continue to limit movement.
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