Limited offers and increased buying inquiries have pulled up imported scrap prices further in Bangladesh. Imported scrap prices have moved up by $20-25/t w-o-w on tighter supplies.
Bulk offers for US origin Shredded are heard at $400/t CFR level. Customers are bidding close to this level. Some deals are likely to get concluded as buyers are actively inquiring for cargoes for restocking, shared a trader with SteelMint.
Limited offers from Japan were heard this week. SteelMint’s assessment for bulk Japanese H2 stands at $ 373/t CFR Chittagong level, up by $15 w-o-w.
Recent containerised offers and trades-
- In a recent deal, a Bangladesh based steel mill has booked a decent quantity of PNS and HMS 1 from UK at $415 and $402/t CFR level respectively.
- EU origin shredded (2,000 t) and Australia origin HMS 1&2 (80:20) (4,000 t) has been sold recently at $400/t and $375/t CFR Chttagong basis respectively.
- UK/Europe origin shredded is being offered at around $400-405/t CFR Chittagong, moving up considerably by $20 w-o-w.
- Whereas, HMS 1&2 (80:20) price increased by $23 on a weekly basis and is being quoted at $385-390/t CFR Chittagong level.
- Fresh offers for HMS 1 now stands at $395-402/t CFR and
- UK/EU origin PNS is being traded at $ 410-412/t CFR level
Mills continue to book Indian sponge iron – An eastern India based trading company has concluded an export deal for around 6,000 t sponge iron for Bangladesh a couple of days back. The deal has been concluded at $357-359/t CPT Benapole for end Dec’20- early Jan’21, sources shared with SteelMint.
Bangladesh mills raise rebar offers – Steel mills in Bangladesh have increased rebar prices by BDT 2,000/t over a week, following a global scrap price uptrend. Current rebar offers are heard at BDT 62,000/t exw. Hike in raw material prices continues to push domestic steel prices.
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