BANGLADESH STEEL SCRAP: Container prices up despite low steel demand

Prices for containers of steel scrap imported into Bangladesh have risen over the past seven days, supported by higher freight costs, market participants told Fastmarkets on Thursday October 22.

Rising demand for grain transportation has driven up container freight costs into Bangladesh, sources said, together with solid gains seen this week in the markets for both Japan export scrap and Taiwan import scrap.
Deals for HMS 1&2 (80:20) in containers from the UK were closed at $315-316 per tonne cfr Bangladesh over the past week, while market sources said that Latin America-origin material was available at $310-312 per tonne cfr.
Fastmarkets’ price assessment for steel scrap, HMS 1&2 (80:20), containerized, import, cfr Bangladesh, was $310-316 per tonne cfr on October 22, up by $7-10 per tonne from $300-309 per tonne cfr one week earlier.
For containerized shredded scrap, a deal for Europe-origin material was transacted at $330 per tonne cfr Bangladesh, while offers for UK material were as high as $335 per tonne cfr and from Australia at $325 per tonne cfr.

Fastmarkets’...

Published

Lee Allen

October 22, 2020

16:22 GMT

Singapore