Imported scrap market for Bangladesh continues to remain subdued, with very few trades being witnessed due to less viability on high global offers and finished steel market continuing to remain flat. Although offers moved up sharply, but with buyers’ inquiries staying limited, and global suppliers getting good business in other markets of the region, less suppliers are offering to Bangladesh.
SteelMint’s offers for UK/Europe origin Shredded scrap climbed up by another USD 10/MT W-o-W, and currently stand at USD 330/MT CFR. Nether any major trades for Shredded got concluded recently, nor is there any active interest from most buyers to procure at such high levels. It has been a few weeks since decent trades for Shredded have been concluded to Bangladesh.
HMS 1 from Australian origin were reported to be offered at USD 306-310/MT CFR, while Brazil origin HMS 1 were offred at around USD 295-300/MT CFR. HMS 80:20 from Europe origin were offered at USD 290/MT while South American 80:20 offers at around USD 285/MT were limited in number.
Some P&S offers were reported from different origins at around USD 325/MT CFR, but found limited interest in the market.
“Buyers presently are rational and cautions to book at high prices, watching the global trend” shared a top steelmaker from Chittagong.
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