Prices for import scrap in Bangladesh have remained relatively stable, though showing a slight downward bias in a number of offers, reflecting cautious buying sentiments and expectations of lower bids. At the same time, domestic steel demand has also remained sluggish in Bangladesh, leading to reduced interest in scrap imports.
Specifically, offers for shredded scrap ex-UK/EU in containers have been voiced at $385-390/mt CFR, the same as last week, though most bids have been voiced at $380/mt CFR level, according to sources. Meanwhile, offers for ex-Australia shredded scrap have settled at $390/mt CFR, down by $5/mt on the higher end week on week. Besides, offers for ex-Hong Kong PNS scrap have been estimated at $410/mt CFR, down by $5/mt week on week.
In the bulk segment, following a deal for 32,000 mt of ex-US scrap signed at $370/mt CFR for HMS grade last week, this week most bids for ex-US HMS grade scrap have been heard at $360/mt CFR, though sellers have continued to resist. Furthermore, offers for ex-Australia HMS grade scrap in bulk have been voiced at $365/mt CFR, while offers from Japan for H2 scrap have settled at around $355/mt CFR, down by $10/mt week on week.