Imported scrap offers to Bangladesh have slightly increased this week following the global price hike.
Few trade sources mentioned there were not much active offers for Shredded scrap heard this week on limited buying interest. SteelMint’s price assessment for Shredded scrap in containers from Europe is presently stand in the range of USD 305-307/MT, CFR Chittagong, up by USD 5/MT W-o-W.
HMS scrap trades saw quite slow this week, with bookings of HMS 1&2 (80:20) from Brazil getting concluded at USD 280/MT, CFR and Europe origin HMS 1 at USD 290/MT CFR respectively. Trades for UK origins low-quality HMS1&2 (80:20) is being offered at USD 275-277/MT CFR Chittagong, while very few bookings were reported.
Few trades from South African origin HMS 1 were witnessed at USD 300/MT CFR. P&S scrap is now slightly up around USD 310/MT CFR Chittagong.
According to the sources, Bangladesh’s domestic steel market witnessed a price decrease this week as finished long steel products recently.
Accordingly, local melting scrap prices have also decreased with current offers reported at BDT 29,000/MT (USD 342) ex Chittagong, decreasing by BDT 2000 /MT (USD 24).
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