- Local scrap prices steady; rebar goes up
- LC still a hurdle, but scenario improves
Bangladesh’s imported scrap prices remained range-bound w-o-w. European HMS 80:20 in containers were at $366-370/t, shredded at $385-388/t, Hong Kong PNS at $390/t, Singapore PNS at $385-390/t, and Malaysia busheling at $395-405/t. Australia’s HMS was priced at $360-365/t, with shredded at $375-378/t. In bulk, US HMS 80:20 stood at $365-370/t, while Japan H2 was at $350-355/t CFR.
Some buyers have re-entered the Bangladesh market, indicating slight activity. While LC issuance remains a challenge, the situation has improved compared to previous months.
PNS offers stood at $388-390/t CFR Chattogram, but buying interest remains at around $380/t. A Dubai-origin HMS/PNS mix (500 t) was booked at $384/t. Dhaka-based mills remain slow in purchases, barring a few active buyers. Australian shredded (1,000 t) was sold at $376/t last weekend, briefly rising by $2-3/t before correcting. Recent PNS offers from Singapore/Malaysia stood at $386-388/t CFR.
BigMint’s weekly assessments
- European-origin containerised shredded was down by $4/t w-o-w at $384/t
- European-origin HMS (80:20) dropped $2/t w-o-w to $366/t
- US-sourced HMS (80:20) bulk prices were up by $3/t w-o-w to $363/t
- Japanese-origin H2 bulk prices stood at $352/t CFR Chattogram, inching up by $2/t w-o-w
Recent deals:
- Malaysia: 2,000 t of PNS were sold at $385/t CFR Chattogram.
- Singapore: A 2,000-t PNS parcel was sold at $385/t CFR Chattogram.
- Australia: 3,000 t of PNS got sold at $385/t CFR Chattogram.
- Singapore: Around 2,000 t of LMS bundle got sold at $336/t CFR Chattogram.
- Australia/New Zealand: About 1,000 t of shredded were sold at $375/t CFR Chattogram.
- Singapore: 1,000-t shredded cargo was sold at $375/t CFR Chattogram.
- Malaysia: 1,000 t of shredded were sold at $375/t CFR Chattogram
- Malaysia: About 4,000 t of busheling bundle was sold at $375/t CFR Chattogram
- Malaysia: 2,000-t LMS bundle was procured at $338/t CFR Chattogram
A Dhaka-based mill source said, “Rebar prices in Chattogram are currently at BDT 85,500-86,500/t ($703-712/t), while in Dhaka, it ranged from BDT 81,500-82,500/t ($670-679/t). Local scrap prices stand at BDT 55,000-57,000/t ($453-469/t).”
A steel mill official noted, “Local scrap prices are steady, but mills are maintaining higher rebar prices, supported by some stable regional demand, but overall the market is moving slowly.”
Outlook
While some buyers have re-entered the market, overall activity is subdued. Nearshore scrap sourcing continues, yet high-priced offers from neighbouring countries and supply tightness may push price trends upward in the near term.
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