Imported ferrous scrap market in Bangladesh has observed further increase in offers this week. As per recent conversations with market participants SteelMint learned that, Bangladesh scrap market is less active with not much trades being noticed.
Current assessment for HMS scrap from Australia & New Zealand in containers is around USD 330/MT, CFR Chittagong. However, not much offers from Dubai were heard.
Price assessment for Shredded scrap in containers was majorly stable at USD 335/MT, CFR Chittagong from last week.
Imported scrap offers in Bangladesh have increased amid hike in global scrap offers. Imported scrap (US origin HMS 80:20) prices have increased to USD 315/MT, CFR Turkey.
“Scrap importers based in Bangladesh have slowed down booking fresh bulk vessels owing to slower market sentiments this week. Most of them are bounded by port congestion issues. No fresh bulk bookings confirmed”– shared a market source.
A market participant shared that Bangladesh based steel mills are facing tough times with increased average waiting time of bulk vessels at Chittagong port which is around 20-25 days. Therefore steel mills are preferring booking material in containers.
As per vessel line up data of bulk vessels maintained with SteelMint, eight bulk scrap import vessels carrying the quantity of 171,600 MT ferrous scrap are at anchorage at Chittagong port. Three vessels carrying 98,510 MT scrap from USA are to arrive in October shortly.
Leave a Reply