Imported scrap offers to Bangladesh remain stable this week. Current offers for HMS 80:20 from Australia and Europe are assessed at USD 210-215/MT. Shredded scrap (ISRI 211) offers from US are assessed at USD 225/MT and from Europe at USD 230-235/MT on CFR Chittagong basis.
Bangladesh is rapidly increasing its steel making capacity and is set to become one of the largest scrap importers in Asian region. The country imported over 0.6 MnT of scrap during FY15. Imports are expected to cross 2.5 MnT in coming 1-2 years.
Offers from DRI (78 FeM Lumps) from India are assessed at USD 260-265/MT CFR Chittagong.
Scrap offers to India fell sharply this week
Imported scrap offers to India fell sharply by USD 10/MT this week due to distress selling. Current offers for shredded are assessed at USD 210-215/MT CFR India and HMS at around USD 200-205/MT levels.
Prices as on 1 Oct’15
| Delivery | Offers |
| CFR India HMS 80:20-Europe | USD 200-205/MT |
| CFR India Shredded-Europe | USD 210-215/MT |
| CFR India HMS 80:20-Middle East | USD 220/MT |
| CFR Bangaldesh, HMS 80:20-Australia | USD 210-215/MT |
| CFR Bangaldesh, Shredded-US | USD 225/MT |
| CFR Bangaldesh, Shredded-Europe | USD 230-235/MT |
| CFR Bangaldesh, DRI-India | USD 265/MT |
| Ex-India, DRI-Raipur | INR 15,100/MT |
Source: SteelMint Research
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