Imported scrap market in Bangladesh remained subdued this week with no significant trades being reported this week.
Current offers for containerized Shredded scrap are assessed around USD 390/MT, CFR Chittagong. The offers have moved down by USD 10/MT on weekly premises.
On similar lines offers for containerized HMS from UK are heard around USD 360/MT, CFR.
“Buyers are looking up for offers in the level of USD 360-370/MT, CFR for P&S scrap. However current offers are higher by around USD 20/MT . On the other side cheaper availability of domestic scrap continues to remain a preference for steel mills. Scrap in local market is available around 34,500 Taka”, shared a scrap trader.
Prices for ship breaking in Bangladesh remained majorly stable on weekly basis. The prices assessed for ship breaking were at USD 410/LDT for general dry bulk cargo, USD 430/LDT for tanker cargo and USD 440/LDT for containers respectively on CNF Bangladesh basis.
Bangladesh has witnessed 44% Y-o-Y increase in Bulk scrap imports in 2017 as against Bulk scrap imports in 2016. The country imported 1,037,094 MT ferrous scrap in 2017 against 722,300 MT in 2016. In CY17, bulk ferrous scrap imports from USA surged almost three folds to Bangladesh while Japan exported more than four folds bulk ferrous scrap against the same in CY16.
USA remained largest scrap supplier in bulk shipments with occupying nearly half share (51%) followed by Japan with 25% share in Bangladesh bulk scrap imports.
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