Import scrap prices in Bangladesh have continued to move mainly sideways, though with a slight downward bias seen in offers for containerized scrap and in contrast with a slight rise seen in indicative prices for scrap in bulk. Meanwhile, trade has remained slack in the import market in Bangladesh this week affected by student protests after days of nationwide unrest and deadly clashes between police and demonstrators.
Specifically, in the containerized segment, offers for shredded scrap from Australia have been voiced at $430-435/mt CFR, the same as last week, while offers for ex-UK/EU shredded scrap have settled at $425/mt CFR. Besides, a deal for around 2,000 mt of ex-New Zealand shredded scrap was signed at $430/mt CFR, according to sources.
Furthermore, offers for HMS I/II 80:20 scrap in containers from Australia have remained at around $415/mt CFR, while customers’ bids have been heard at $405/mt CFR. According to market insiders, a deal for ex-Chile HMS I/II 80:20 has been signed at $412/mt CFR this week.
Meanwhile, several deals for ex-Australia and ex-Singapore PNS scrap have been reported at $445/mt CFR and $448/mt CFR, respectively, mainly the same as last week. Offers for ex-Malaysia and ex-Hong Kong PNS scrap have settled at $445-448/mt CFR, against $450/mt CFR last week.
Offers for an ex-UAE HMS I and PNS mixed cargo have been reported at $430-435/mt CFR, while bids have been heard at $425/mt CFR.
In the bulk segment, trade activity has been close to zero, with indicative offers for ex-US HMS I/II 80:20 standing at $410/mt CFR, against $405/mt CFR last week, while shredded scrap prices have been estimated at $415/mt CFR, with bids heard at $408-410/mt CFR. Offers for ex-Japan H2 scrap in bulk have been assessed at $405/mt CFR.
“Price levels don’t indicate any significant changes as Bangladesh was shut down for over seven to eight days due to riots,” a market insider told SteelOrbis.