Imported scrap offers to Bangladesh remain unchanged this week. Current offers for HMS 80:20 from Australia and Japan are assessed in the range of USD 185/MT, CFR Chittagong. Whereas, European and US offers are around USD 190-195/MT, CFR Chittagong.
Shredded offers from US/Europe are hovering in the range of USD 200-205/MT. Whereas, Australian offers are around USD 190-195/MT, CFR Chittagong port.
Bangladesh is increasing their scrap imports in order to match rising steelmaking capacity in the country. In FY15, the country imported 0.6MnT and is expected to increase import to 2.5-3 MnT.
Chinese billet imports spoil scrap market
Rising availability of Chinese billet in global market has affected seaborne scrap prices. Recently, BIR (Bureau of International Recycling) has reported a sharp fall in scrap imports in some of the major markets during Jan’15-Jun’15.
South Korea reported a fall in scrap imports by 35% to 2.8 MnT, the USA by 12% to 1.9MnT, China by 2.4% to 1.3 MnT and Indonesia by 53.6% to 0.5MnT.
Global Scrap Offers as on 21 Oct’15
| Delivery | Grade/Origin | Offers |
| CFR India | HMS 80:20-Europe | 185 |
| Shredded-Europe | 195 | |
| CFR Bangladesh | HMS 80:20-Australia, Japan | 185 |
| HMS 80:20-Europe, US | 190-195 | |
| Shredded- Australia | 195 | |
| Shredded-Europe,US | 200-205 |
Prices in USD/MT
Source: SteelMint Research
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