BANGLADESH STEEL SCRAP: Prices fall after fresh US cargo sales

More deep-sea bulk cargoes have been sold to Bangladesh from the United States, with prices easing following the sales, market participants told Fastmarkets on Thursday January 21.

Three bulk cargoes from the US West Coast were booked in recent weeks within a range of $495-500 per tonne cfr for HMS 1&2 (80:20) to a major mill in the country, with sources saying the total quantity of the deals comes to around 80,000 tonnes.
One deal, totaling 30,000 tonnes of scrap sold by a US exporter in the Pacific Northwest, comprised 20,000 tonnes of HMS 1&2 (80:20) at $495 per tonne cfr and 10,000 tonnes of shredded scrap at $500 per tonne cfr for a February shipment. The deal was heard to have been closed on Sunday January 17.

A further two deals were heard sold off the US West Coast at similar prices before the Pacific Northwest sale, while a fourth deal at $485 per tonne...


Lee Allen

January 21, 2021

12:12 GMT