BANGLADESH STEEL SCRAP: Buyers turn focus to cheaper ship scrap, containers

Offers for deep-sea import scrap to Bangladesh rose again over the past week, leading mills to focus their attention on markets for domestic scrap and containerized import scrap, sources told Fastmarkets.

“The markets have turned and it's definitely a seller’s market now,” one South Asian trader said. “We're not giving space for buyers to come back to negotiate while the market is rising, so these are non-negotiable offers."
Offer prices for US West Coast origin HMS 1&2 (80:20) were heard at $300 per tonne cfr on Thursday July 30, up from $290-295 per tonne cfr last week, with shredded material offered $5-per-tonne higher.

Considering the strong increase in scrap prices to Turkey over the last few days, deep-sea bulk shredded into Bangladesh from the US West Coast should be commanding a price of $303 per tonne cfr and bulk HMS 1&2 (80:20)...


Lee Allen

July 31, 2020

13:30 GMT