Imported scrap offer to Bangladesh remain firm although buyers postponed their buying at the present prices.
Containerized imported scrap offer to Bangladesh assessed at USD 280-285/MT and HMS scrap 80:20 offer are at USD 260-265/MT. Prices are unchanged to last week offer. Offers of bulk ship of HMS 80:20 assessed at USD 285-290/MT and shredded at USD 300-310/MT.
SteelMint learned from buyers that they postponed the buying due to port congestion and low domestic steel prices. “Chittagong port congestion is still high, we are recurring demurrage in all containers. ” a Purchase Head of steel manufacturer located in Chittagong stated. He also added,” Due to limited bricks supply to construction, the demand of tmt is very low in the country”.
Another manufacturer said, “Buying of scrap will improve post 10-15 days as domestic demand of rebar becomes better”.
Few deals of Indian origin Sponge Iron (C-DRI FeM 80, 100% Lumps) heard at USD 240-245/MT CIF Benapole port Bangladesh.
| Particular | Size | Prices | 1W | 1M |
| CNF India | HMS(80:20), Europe | 245 | 245 | 245 |
| HMS-1, Middle East | 240 | 240 | 244 | |
| HMS-1&2, S.Africa | 235 | 235 | 242.5 | |
| Shredded, Europe | 270 | 270 | 267.5 | |
| Shredded, US | 275 | 275 | 267.5 | |
| CNF Taiwan | HMS(80:20), US | 235 | 235 | 299.5 |
| CNF Turkey | HMS(80:20), US | 271 | 271 | 261.5 |
| CNF Bangladesh | Shredded, Australia/Europe | 278 | 278 | 277.5 |
| HMS 80:20, Australia/Europe | 260 | 260 | 250 | |
| CNF Pakistan | Shredded, US/Europe | 270 | 270 | 271.5 |
Source: SteelMint Research
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