Bangladesh based steel mill has booked US origin bulk scrap cargo recently, sources have reported SteelMint. The booked cargo comprises 32,000 t of mixed scrap grades and average booking price stands at around $320-322/t CFR Chittagong for Nov’20 shipments. Prices have moved up by around $5/t w-o-w, as compared to $315/t CFR during mid of last week.
There are hardly any firm offers for bulk cargoes from Japan due to tight availability and stronger domestic buying by Japanese mills, traders highlighted. Indicative price for Japanese H2 in bulk stands at $320/t CFR Chittagong level, increasing by $8/t as compared to last week. However, bids are comparatively lower by $5 than current offers.
The country remained mostly quiet for last couple of weeks and did not make much of fresh bookings, as imported scrap offers have increased significantly due to tight scrap availability. However domestic finished steel prices are yet to pick up. It has recorded just three bulk scrap bookings throughout the month, as per data maintained with SteelMint.
Bangladesh bulk scrap bookings in Oct’20
Containerised scrap offers up by $5-10 w-o-w – Imported containerised scrap offers have increased further in a week’s time.
- SteelMint’s assessment of containerized shredded 211 scrap from UK/Europe origins stands at $335-340/t CFR Chittagong, up by $8 w-o-w.
- A decent quantity of shredded has been booked at $340/t CFR Chittagong basis.
- While, in another deal, Australian origin HMS 1&2 (80:20) was sold at $320/t CFR Chittagong basis. Few offers for Australia origin HMS 1&2 (80:20) are heard at $325/t CFR Chittagong.
Domestic rebar prices remain unchanged- Domestic local shipyard scrap prices have increased by another BDT 1000/t w-o-w. Currently, shipyard scrap prices stand at BDT 32,900-33,000/t ex yard Chittagong basis. While rebar prices have remained stable in the last couple of weeks and the major mills are quoting offers at BDT 56,500/t ex-Chittagong basis.
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