- Containerised offers firm; buyers cautious ahead of polls
- Japanese H2 bulk gains after Kanto tender
Imported ferrous scrap prices in Bangladesh strengthened in the week ended 11 February, supported by firmer containerised offers in the global market and tightening scrap availability. Reduced domestic scrap generation prompted mills to step up seaborne bookings, lending near-term price support despite subdued trading ahead of the national elections (12 February 2026).
BigMint’s weekly assessments
- European-origin HMS (80:20) assessed at $351/t, up by $1/t w-o-w.
- European-origin containerised shredded increased by $1/t w-o-w to $371/t.
- Japanese-origin H2 bulk rose by $7/t w-o-w to $355/t.
- US-origin HMS (80:20) bulk rose by $2/t w-o-w at $373/t.
Containerised market firm
Indicative offers from Oceania (Australia and New Zealand) stood at $375-380/t CFR for shredded, $355-360/t for HMS 90:10, $348-350/t for HMS 80:20, and $378-382/t for PNS.
Sources said offers rose by $4-5/t w-o-w, as tight local availability and slower collections prompted exporters to push prices higher.
Bulk segment cautious
US bulk offers for HMS (80:20) were heard at $380/t CFR, although tradable levels were indicated lower at $365-370/t, reflecting a persistent bid-offer gap. Fresh Japanese H2 levels are now expected at $355-360/t CFR, with potential upside if mills return aggressively post-election.
As per a bulk scrap supplier, buying momentum is expected to improve once political clarity emerges, with mills likely to return to the deep-sea market to secure forward cargoes. In the short term, tightening global scrap supply and firmer Japanese benchmarks are likely to keep import prices supported, although resistance above $380/t CFR may cap sharp gains.
Recent trades:
- Around 20,000 t of H2 (bulk) cargo bought by a Chattogram-based mill at $310/t FAS Japan
- Around 1,000 t of PNS from Singapore booked at $383/t CFR Chattogram
- Around 1,000 t of PNS from Malaysia booked at $380/t CFR Chattogram
Domestic scrap is currently assessed at BDT 51,000-52,000/t ($417-425/t). Chattogram rebar prices are assessed at BDT 81,000-82,000/t ($662-670/t), while Dhaka-based rebar prices at BDT 77,000-78,000/t ($630-638/t) have largely remained unchanged in recent weeks.
Ship recycling: Chattogram’s ship-breaking market showed cautious recovery, with yard utilisation improving as delayed deliveries were cleared and a large tanker arrival supported sentiment. The taka strengthened slightly,, and plate prices rebounded by $9/t to $494/t, easing recycler margins.
Outlook
In the coming weeks, Bangladesh’s imported scrap market is expected to remain firm but cautious ahead of the mid-February (12 February) national elections. Trading activity is likely to stay need-based amid limited liquidity and political uncertainty. Post-election clarity may gradually restore buyer confidence, supporting a modest pickup in bookings if stability is maintained.
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