Bangladesh: Imported scrap prices witness mixed trends; near-term outlook muted

• Buyer caution persists as elections curb market interest
• Rebar demand stays weak, limiting mills’ buying appetite

Bangladesh’s imported scrap prices showed mixed trends in the week ending 19 November. The market saw muted activity, with fresh inquiries slowing, as Bangladeshi mills turned cautious ahead of the national elections. Rebar prices softened slightly as the market lacked momentum, and overall buyer sentiment remained subdued amid rising uncertainty.

BigMint’s weekly assessments

• European-origin HMS (80:20) held steady w-o-w at $341/t.
• European-origin containerised shredded remained unchanged at $364/t.
• Japanese-origin H2 bulk stayed stable at $341/t.
• US-origin HMS (80:20) bulk inched up $2/t w-o-w to $353/t.

As per market insiders, Brazil-origin HMS 1 (90:10) was offered at $335-340/t and HMS 2 bundles at $305-310/t, while bulk HMS offers hovered near $350/t CFR. GI bundles were offered at $310/t, with buyers bidding around $305/t, and Australian HMS 80:20 was quoted at $330/t, and HMS-PNS mix from Hong Kong was offered in the $330-335/t range.

Despite these higher offer levels, Bangladeshi mills scaled back procurement amid liquidity strain and price uncertainty, with the bid-offer gap remaining wide.

Rebar prices in Bangladesh softened this week, to BDT 72,000-73,000/t ($589-597/t) exw in Dhaka and BDT 76,000-77,000/t ($622-630/t) exw in Chattogram.

Ship recycling update

Chattogram saw seven vessels, totalling nearly 66,000 LDT last week, as some private units returned to the market. However, demand was weak, and overall, arrivals have remained low since June despite slightly firmer offers.

High tariffs, inflation, monsoon-related disruptions, a weakening Bangladeshi taka, and rising political uncertainty continue to weigh on sentiment. Steel plate prices have softened, keeping the ship-recycling outlook subdued heading into late 2025.

Outlook

Bangladesh’s steel and scrap markets are likely to remain quiet and range-bound, with buyers staying cautious ahead of national elections. Minor trades may continue, but a meaningful upswing is unlikely until political clarity improves and demand strengthens.