Trade deals for imported scrap remained dull owing to disparity between bids and offers. However, few deals in ship breaking resulted in hike in its prices by USD 20/MT this week.
In line with rising global scrap prices, imported scrap offers to Bangladesh have moved up. Price assessment for Shredded scrap from UK stood at USD 350-355/MT, CFR Chittagong. These offers have increased from the last week assessment which was around USD 350/MT, CFR.
HMS 1 from Dubai origin offered at USD 335-340/MT, CFR while offers for P&S scrap are heard above USD 355/MT. South African offers for HMS (80:20) assessed at USD 325-330/MT but owing to low grade it was not preferred.
“Bangladesh scrap importers had booked significant volumes of scrap in Sept-Oct months for which arrival is expected very soon. These cargoes had already fetched quite high prices at above USD 350/MT levels and thus present buying interest stands at little lower side from buyers end but sellers are not willing to negotiate over strong global sentiments”– shared a market participant in Bangladesh
Another scrap trader based in Bangladesh shared that he was offered a cargo containing 40,000 MT Shredded scrap at USD 352-353/MT this week. Many of the offers for P&S scrap are heard above USD 355-360/MT levels. Meanwhile, other charges functional for detention and damages have also hiked by quite unexpected margins. This has lead Bangladeshi scrap importer to wait for a while from making further bookings.
Ship breaking prices in Bangladesh climb by USD 20/MT W-o-W –
Approaching year end is traditionally a very active period for ship breaking industry as most of the ship owners look for selling old ships in order to balance their books. Following which ship breaking prices across subcontinental markets have moved upward sharply.This week ship breaking prices in Bangladesh raised further by USD 20/MT on W-o-W basis.
The latest ship breaking prices for general cargo assessed at USD 400/LDT and USD 420/LDT, CFR Bangladesh for tanker cargoes. These prices in last week were hovering around USD 380/LDT for general cargo and around USD 400/LDT tanker cargoes on CFR Bangladesh basis.
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