BANGLADESH STEEL SCRAP: Mill books fresh deep-sea cargo from Australia

A Bangladeshi steelmaker booked a deep-sea bulk cargo from Australia this week, while containerized scrap prices have risen due to tight supplies, market sources told Fastmarkets.

The mill purchased 27,000 tonnes of HMS 1&2 (80:20) from an Australian exporter at $313.5 per tonne cfr Bangladesh on October 14 - the first confirmed deep-sea bulk cargo to the country in about a month.
Demand for scrap in Bangladesh has risen in recent months amid an increase in government infrastructure projects and higher mill capacity utilization rates.
“Billet sales prices are low in Bangladesh but the market will go up soon,” a Bangladeshi steelmaker source said.

The Covid-19 situation has showed signs of improvement in Bangladesh, with falling infection rates recorded in recent weeks, and the steelmaker source said that many in the country are going about their business...

Published

Lee Allen

October 16, 2020

08:34 GMT

Singapore