ECONOMY   Scrap & Recycling  

Bangladesh: Imported Scrap Trades Limited; Offers Range bound

SteelMint learned from industry participants that imported scrap trades in Bangladesh have remained slow as current prevailing offers in the market are comparatively high against buyers’ expectation and other subcontinental markets.

Participants shared that global scrap prices have moved down recently turning Bangladeshi buyers hesitant to book more volume as they wait for more clarity on the market.

Sluggish demand in the finish steel market, Ramadan holidays scheduled in the next month and expected slowdown in construction activities on rains keep sentiments subdued for scrap booking in the country.

SteelMint’s price assessment for containerized Shredded scrap stands in the range of USD 340-345/MT, CFR Chittagong mostly stable against the last week’s report. However, scrap yards based in UK, Europe and Australia are quoting Shredded in the range of USD 345-347/MT, CFR at the moment.

Containerized HMS 1 from Chile and Brazil is being quoted in the range USD 337-340/MT, CFR marginally down against last week. Price assessment of HMS 1&2 from other origins like West Africa and Europe stands at around USD 330-335/MT, CFR Chittagong.

Domestic scrap prices stable on W-o-W basis - Shipyard scrap selling prices assessed at around BDT 37,500/MT (USD 445), ex-Chittagong basis. While local melting scrap prices are being reported at BDT 36,500/MT, ex-works inclusive of taxes.

Turkey’s imported scrap price fall further by USD 4-5 – According to SteelMint’s price assessment, US origin HMS (80:20) scrap moved down to USD 308-310/MT, CFR Turkey. While HMS 1&2 (80:20) of Europe origin stands at around USD 304-305/MT, CFR. In a recent UK deal confirmed, a cargo comprising 25,000 MT of HMS 1&2 (80:20) sold to Marmara based importer at USD 308/MT, CFR Turkey.

Scrap buyers are looking for USD 305-310/MT, CFR levels as prices weakened further. Meanwhile, most of the participants remain engaged in conferences like IREPAS conference in Barcelona and ISRI conference in Los Angeles which would have kept finished steel demand subdued.

News No: 4325
Date: 2019/04/11 - 17:23
News Source: SteelMint

Bangladesh  Scrap  Trade  CFR  ISRI 


Leave a Comment:


Brent, WTI Prices Slip

Oil prices slipped on Monday as signs of an economic slowdown amid international trade disputes began to outweigh supply fears that were stoked by attacks on oil tankers in the Gulf of Oman last week and sent prices higher.

Global Billet Market Overview: Week 24, 2019

This was the consecutive week, in which Turkey's scrap import prices fell down by USD 8-10/MT and global billet market witnessed yet another dull week. Although it was not surprising for the marketers, the market acted exactly in line with the expected resonance

Indian Steel Market Weekly Snapshot

Indian steel prices moved down-trend during the Week-24 (8-15th Jun'19) on demand concern amid healthier supply. The producers seems received limited response as offers continued on negative direction.

Global Ferrous Scrap Market Overview - Week 24, 2019

Global ferrous scrap markets witnessed downtrend in all the major markets amid limited demand this week. Further price correction in Turkey pulled down global ferrous scrap offers also for South Asian and East Asian markets.

Japan: Tokyo Steel Cuts Scrap Purchase Price Further by USD 5

As per new price circular released, Japan’s leading EAF mini-mill - Tokyo Steel has lowered the domestic H2 scrap purchase price by JPY 500/MT (USD 5) at all five works in Japan. New prices for all grades shall be effective from tomorrow (15th June'19)

SE Asia: Billet Market Remains Silent Amid Less Trades

This was another dull week for global billet market. This week, market was observed exactly in the similar tone with the expectations. The dullness intensity of the global billet market escalated this week, even the Eid festivity did not brought any boon to the market.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners