Imported scrap offer to Bangladesh has come down by USD 10-20/MT although sellers are reluctant to offer bulk quantity at these prices.
Containerized imported scrap offer to Bangladesh heard at USD 270-280/MT and HMS scrap 80:20 offer are at USD 250-260/MT.
“We do not have sellers at our yards at these price levels. Most of the large sellers also sold out till 15 Dec’16” said an exporter that offer to Bangladesh.
A bulk buyer from Chittagong said, “We have containerized shredded offer at USD 265-270/MT and HMS 80:20 offers are below USD 250/MT CIF Chittagong port”. He also added that “There is no shortage of quantity; one can book 10,000 MT immediately”
An Indenter located in Dhaka said, “we had deal for shredded scrap during SteelMint (14th -15h Nov) conference for USD 290-292/MT but now offers are down by USD 10-20/MT with limited sellers as most of them are sold out till 15th Dec’16”.
Recently Chittagong based buyer also heard DRI deal from East cost of India at USD 240-250/MT CFR Benapole port. Indian sponge prices have weakened by more than INR 1,000/MT (USD 15) in last 15 days post demonetization. Bangladesh buyers are aware of the given situation of India that scrap buying and local sponge prices are weak.
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