The scrap market of Bangladesh has shown mixed behavior. Large-scale steel mills have booked bulk cargoes at increased prices. The small-scale containerized market remained subdued, while medium-sized firms have suspended bookings.
High electricity prices and the high cost of inputs caused sluggish demand for steel scrap. A bulk deal has been finalized for 15,000 tons of shredded and HMS from US West Coast at prices of $420/t for shredded and HMS at $415/t CFR Bangladesh. Suppliers are not offering deals; they hold them for higher prices. Indicative offers for bulk US-origin HMS at $430/t CFR.
The monthly scrap tender of Japan’s Kanto has been finalized for 10,000 tons for October. H2 scrap has shown a decline of 9 dollars from $349/t to $340/t. Bangladesh’s scrap imports have increased by 31% from 3.15 million tons to 4.13 million tons in 9 months from January to September. It is a significant importer of ferrous scrap in South Asia.
Containerized trade had successfully finalized for 1000-2000 tons of UK-origin shredded with an increase of 10-20 dollars at $480-490/t. A deal has been finalized at 1,000 t of UK-origin HMS 1 (80:20) with a rise of $20 at $470/t CFR. 1,000 t of UK-origin PNS were traded at $495/t CFR Chittagong.
Domestic rebar demand has increased, indicating that demand for scrap and prices will rise in near future.
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