Bangladesh based mills have continued to remain active in bulk scrap market and were seen actively restocking ahead winters. Around 90,000 t bulk scrap cargo have been booked from origins like US, EU/UK and Japan for late Nov-early Dec’20 shipments, trade sources have reported SteelMint.
Bangladesh bulk scrap import deals heard in last one week-
Limited offers for Japanese H2 were reported. SteelMint’s bulk assessment for Japanese H2 stands at $320/t CFR Chittagong level.
Containerised imported scrap offers – Imported scrap offers for Bangladesh have increased but bookings remained slow. Owing to aggressive bookings observed by Pakistan based importers, scrap suppliers remained active in concluding cargoes in Pakistan, highlighted a participant from a global trading company.
- SteelMint’s assessment of containerized shredded 211 scrap from UK/Europe origins stands stable at $340/t CFR Chittagong, up by $2 w-o-w
- Around 1,000 t of Australia origin shredded has been booked at $342/t CFR Chittagong basis.
- While, HMS 1&2 (80:20) from different origins is being offered at around $325-330/t CFR Chittagong level.
Domestic steel market sentiments remain subdued: Domestic steel market still witnessing weak sentiments, as construction activities are running at a very slow pace. Rebar offers from major mills remained firm at BDT 56,500/t ex-Chittagong basis as compared to last week. While local shipyard scrap prices have increased by another BDT 1000/t w-o-w. Currently, shipyard scrap prices stand at BDT 34,000/t ex yard Chittagong basis.
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