BANGLADESH SCRAP: Prices up $10 amid US West Coast supply tightness

Prices for bulk cargoes of deep-sea ferrous scrap imported into Bangladesh increased by $10 per tonne over the week to Thursday April 9, with suppliers in the United States raising their offers in response to lower material availability.

Bangladesh import prices were also raised by continued demand for steel scrap in the country, despite the nation’s recently-imposed lockdown, with at least one steel mill in the market looking to buy a deep-sea bulk cargo.
Fastmarkets’ price assessment for bulk cargoes of steel scrap, HMS 1&2 (80:20), deep-sea origin, import, cfr Bangladesh, was $250-255 per tonne on April 9, up from $240-245 per tonne one week earlier.
Offer prices from the US West Coast for HMS 1&2 (80:20) were heard at $255-260 per tonne cfr recently, with one mill source telling Fastmarkets that he would be prepared to conclude a deal at $255 per tonne cfr.
Slower yard inflows in the US - caused by reductions in industrial activity resulting from the measures taken to combat the Covid-19 pandemic - have pushed prices upward in recent export bookings to Turkey from the East Coast.

Published

Lee Allen

April 09, 2020

18:54 GMT

Singapore