BANGLADESH STEEL SCRAP: US offers strengthen but buyers remain quiet

Prices for cargoes of steel scrap imported to Bangladesh inched up over the past week amid firmer offers from the United States West Coast and continued strength in the Turkey market, sources told Fastmarkets.

Fastmarkets’ price assessment for bulk cargoes of steel scrap, HMS 1&2 (80:20), deep-sea origin, import, cfr Bangladesh was $270-278 per tonne on Thursday July 16, up by $2-3 per tonne from $268-275 per tonne on July 9.
A deal for 32,000 tonnes of US-origin shredded scrap was said to have been concluded at $280-283 per tonne cfr Bangladesh, but Fastmarkets was unable to confirm the deal at the time of publication, with several market sources raising doubts over the likelihood of such a sale.
Most market participants believed that offer prices to the South Asian nation will continue to rise over the coming weeks.

“US...

Published

Lee Allen

July 17, 2020

08:01 GMT

Singapore