- 2-3 bulk scrap cargoes booked towards last weekend
- Fresh bulk scrap offers rise further
Bangladesh’s imported scrap trade has regained momentum, especially in the bulk segment after remaining silent for a week. Around 12,000 tonnes (t) of Australia-origin bulk scrap cargo, comprising plates and structural materials, were booked recently for Mar’22 shipment. The booking price was heard at $565/t CFR Chittagong.
In another deal heard, a bulk cargo of 30,000-35,000 t was heard to have been booked at around $565/t, CFR levels for HMS. However, the origin could not be confirmed, though some sources mentioned it to be from USA. Another bulk scrap deal of EU-origin was also reportedly concluded last weekend.
Fresh bulk scrap offers rally
- Indication for Japanese H2 material has increased to $570-575/t levels, after today’s Kanto tender outcome. A total of 10,100 t of scrap was awarded to two Vietnamese buyers and the average price for H2 scrap stood at JPY 50,983/t ($442/t) FAS.
- Fresh offers for US-origin bulk HMS scrap are at $565-570/t CFR Chittagong.
Containerised scrap market overview
The country’s scrap buyers have observed slow market activities, which led to limited bookings for scrap. Meanwhile, stocked rebar inventory is making buyers think twice before making new bookings.
- UK-origin shredded is being offered at $580-585/t CFR levels, registering a sharp hike of $5-10/t w-o-w.
- Offers for P&S are assessed around $585-590/t, CFR levels.
- Meanwhile, UK HMS 1&2 (80:20) is being quoted at $540-545/t CFR levels, up by $5/t w-o-w.
Domestic rebar offers remain largely stable: Domestic rebar prices remained unchanged for yet another week. In the meantime, in the Dhaka market, rebar offers remained range-bound at BDT 74,000-75,000t ($861-873/t). These levels were, however, higher by BDT 2,000-3,000/t ($23-35/t) as against prices were recorded in Dec’21.
Sources expect rebar prices to pick up by BDT 500/t in the near term which may keep imported scrap bookings supported.
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