Sentiment continues to be cautious in Bangladesh’s import scrap market due to the price declines reported this week, with many buyers staying on the sidelines amid expectations of further price falls. Besides, according to sources, major Bangladeshi steel mills are holding off from new purchases, citing adequate inventory levels and persistently weak demand. Additionally, the postponement of significant infrastructure projects is contributing to the overall uncertainty in the short term.
More specifically, following a deal for ex-Australia HMS I/II 90:10 scrap at $380/mt CFR last week, this week a new deal for around 1,000 mt has been signed at $370-372/mt CFR, according to sources.
Besides, offers for ex-UK/EU shredded scrap in containers have been voiced at $390-395/mt CFR, down by $10/mt week on week, while offers for shredded scrap from Australia and Malaysia have been reported at $395-400/mt CFR, against $400/mt CFR last week.
Furthermore, according to sources, several deals have been reported for PNS import scrap this week, with around 1,000 mt of ex-Peru PNS booked at $410/mt CFR. Besides, another mixed deal for ex-UAE HMS grade and PNS scrap has been signed at $400/mt CFR.
Meanwhile, in the bulk segment trade has remained close to zero, with indicative offers for ex-US HMS I/II 80:20 at $375/mt CFR, down by $5/mt week on week. Besides, offers for ex-Japan H2 scrap have been estimated at $365/mt CFR, down by $5-10/mt over the past week.