Imported bulk scrap trades in Bangladesh have increased over the past couple of weeks.SteelMint learned from its close sources that major mills like BSRM, GPH Ispat and Abul Khair have been actively booking bulk scrap cargoes from US WC and Japan. In addition to SteelMint’s last week’s report of over 100,000t bulk scrap bookings, a couple of more deals were concluded at the end of last week, trade channels reported.
Bulk deals concluded for Bangladesh towards end of last week
Another deal for around 15,000 t Japanese scrap was also heard but could not be confirmed at the time of publishing this report.
Containerized scrap market updates in Bangladesh
- SteelMint’s assessment of containerized shredded 211 scrap from European origins remained at $325/t CFR Chittagong, unchanged w-o-w. Indicative bids were at $315-317/t CFR level.
- Offers for HMS 1&2 (80:20) were at $305/t CFR Chittagong.
- HMS 1 from Australia in containers is being sold at $310/t CFR Chittagong basis.
- HMS 1&2 (80:20) from Australia/NZ is being offered at around $302/t CFR.
- While HMS 1&2 (80:20) from Chile is being quoted at $300/t CFR Chittagong level.
Bangladesh domestic steel market – Domestic steel market sentiments have improved and prices have increased this week.
- Rebar prices have increased to BDT 51,000-51,500/t exw Dhaka, slightly up by BDT 500/t from last week’s prices.
- While billet prices continued to move up in Dhaka region over the last few weeks by BDT 2000-3000/t and was being sold at BDT 42,000-44,000/t exw Dhaka.
- Local shipyard scrap prices have come down from BDT 31,000/t ex yard Chittagong on Friday to BDT 30,000/t levels now; including taxes.
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