ASIA STEEL SCRAP DIGEST: Bangladesh deep-sea import offers soar

Offer prices for deep-sea cargoes in Bangladesh jumped in the week ended October 14 amid bullish sentiment from United States sellers and good scrap demand in competing Asian import nations, sources told Fastmarkets.

  • Bangladeshi mills hit by strong offer prices
  • South Korean mill issues scrap import tender
  • Taiwanese containerized prices continue to increase
  • Electricity rationing sours sentiment in China
Offers for deep-sea HMS 1&2 (80:20) were heard at $565-570 per tonne cfr Bangladesh over the last few days, following rising interest in deep sea markets by both South Korea and Vietnam.
The offers were too high for buyers to accept, but sources said that mills may be forced to pay these prices eventually given that the largest steelmakers in the country are all running close to maximum capacity.

"Mills will likely hold off from buying deep-sea bulks now and use the container market as a stop-gap but they are going to get desperate and they must come back at some point," a South-Asian based trading source said....


Lee Allen

Paul Lim

Tianran Zhao

October 14, 2021

11:04 GMT

Singapore, Shanghai, London