Bangladesh has returned to scrap market this week after it stayed quiet last week. Some booking are heard as Bulk cargo (Bushelling) from Japan sold at USD 325/MT levels and containerized scrap (Bushelling) from Thailand at USD 330/MT levels CFR Chittagong .
According to a trader in Bangladesh, “Some of the booking have been heard from the large Company in Bangladesh at USD 325-330/MT levels. It is expected that the buyers in Bangladesh would return to the market in the coming week.”
Bushelling is more preferred in the Bangladesh and the bookings are heard at USD 325-330/MT levels. As the prices for shredded scrap are fluctuating, the big buyers of scrap are preferring Bushelling from Thailand and Japan. The offers are mostly heard from Far East Asia and Brazil. Europe offers are not viable since the prices for freight (Containerized scrap) have increased.
According to sources, “The customs in Bangladesh have notified the local mills that the quality of scrap should be according to the standards set by ISRI (Institute of Scrap Recycling Industries).”
The various offers that are said to be offered on some of the trade that has happened in this week are PNS at USD 315-320/MT levels and Containerized shredded (US) at USD 325/MT CFR Chittagong.
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