Trade activity in Bangladesh’s import scrap market has remained slow this week given the sluggish local finished steel demand coupled with shutdowns at a number of steel mill,s while those who keep working have capacity utilization rates not higher than 50-60 percent.
More specifically, according to sources, only occasional deals for containerized scrap have been heard in Bangladesh this week, with two deals for ex-Australia and ex-Brazil HMS grade scrap signed at $385/mt CFR. Besides, another deal for ex-New Zealand shredded scrap has been heard at $405/mt CFR. Meanwhile, offers for ex-EU shredded scrap in containers have been estimated at $400/mt CFR, the same as last week, while offers for Australia origin scrap have been heard at $410-415/mt CFR. Besides, offers for ex-Australia HMS I/II 80:20 scrap have settled at $405/mt CFR, with bids voiced at $395/mt CFR level, according to sources.
Besides, offers for mixed batches of ex-UAE HMS I and PNS have been voiced at $415/mt CFR, while bids have been heard at $405-408/mt CFR levels. Suppliers from Hong Kong and Malaysia have been offering PNS scrap at $430/mt CFR, the same as last week, though, according to traders, lower offers at $415/mt CFR have also been reported in the market by Thursday, September 5.
In the bulk segment, trade activity has been close to zero, while indicative offers for ex-US HMS I/II 80:20 scrap have settled at $395-400/mt CFR and at $405-410/mt CFR for shredded scrap, mainly the same as last week. Offers for ex-Japan H2 scrap have been voiced at $385/mt CFR, the same as last week as well.
In the domestic market, offers for local HMS scrap have been voiced at BDT 52,000-54,000/mt ($435-452/mt) ex-warehouse, while offers for local rebar have settled at BDT 80,000/mt ($670/mt) ex-works in Dhaka and BDT 84,000/mt ($703/mt) ex-Chittagong.