Scrap offers to Bangladesh fell in line with global prices. This week imported offers (HMS 80:20) to Turkey, largest importer of ferrous scrap, have dropped to USD 175-180/MT, CFR Turkey, which was trading at USD 185-190/MT a week ago.
HMS 80:20 offers from US west coast are assessed at USD 195-200/MT, CFR Chittagong. Whereas, similar grade from UK, Japan and Australia were offered at USD 200-205/MT, CFR Chittagong.
Shredded scrap offers from US are hovering in the range of USD 205-210/MT, CFR Chittagong. Whereas, European and Australian offers are in the range of USD 210-215/MT, CFR Chittagong.
Bangladesh to increase scrap imports in coming months
Bangladesh is set to increase imports of ferrous scrap in coming months owing to surge in steel making capacity in the country. The country imports about 600,000 MT (0.6 MnT) scrap annually and is expected to increase imports to 3,000,000 MT (3 MnT) in FY16.
Scrap offers to India
Imported scrap offers to India also corrected sharply this week. Shredded scrap offers fell to USD 195-200/MT and HMS 80:20 to USD 185/MT on CFR India main port basis.
Indian scrap imports noticed a growth of 19% in September owing to increase in bulk shipments and lower prices in global market.
Global Scrap offers as on 10 Oct’15
| Particular/Delivery | Size/Grade | Prices in USD/MT | Change in W-o-W |
| CNF India | HMS(80:20), Europe | 185 | – 10 |
| HMS-1, Middle East | 215 | 0 | |
| HMS-1&2, Middle East | 205 | 0 | |
| HMS-1&2, S.Africa | 200 | – 5 | |
| Shredded, Europe | 200 | – 5 | |
| Shredded, US | 195 | – 5 | |
| CNF Bangladesh | HMS(80:20), US | 195-200 | – 5 |
| Shredded, US | 205-210 | – 5 | |
| Shredded, UK/Australia | 210-215 | – 5 | |
| CNF Taiwan | HMS(80:20), US | 158 | 0 |
| CNF Turkey | HMS(80:20), US | 175-180 | – 8 |
| FOB Japan | Busheling Shredded, Japan | 190 | 0 |
| FOB Rotterdam, Europe | HMS(80:20), Europe | 160 | – 3 |
| FOB US East Coast | Shredded, US East Coast | 178 | 0 |
Source: SteelMint Research
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