Bangladesh: Imported Scrap Trades Limited on Dull Domestic Sentiments
SteelMint learned from industry participants that imported scrap market in Bangladesh has observed very limited trades as local sentiments have turned down now.
Domestic finish steel prices have come under pressure by BDT 500-800/MT as against the last week on weakened demand. Participants remained slow for scrap bookings as rains likely to keep sentiments bearish in coming days.
SteelMint’s price assessment for containerized Shredded scrap stands at around USD 350/MT, CFR Chittagong almost steady against the last week’s report. Scrap yards based in UK and Australia were offering Shredded in the range of USD 350-354/MT, CFR but no major deal has been confirmed.
Containerized HMS 1 from Chile and Brazil is being offered in the range USD 340-343/MT, CFR marginally up against last week on tight supply situation globally. Price assessment for containerized P&S scrap from Canada and Brazil stands flat at around USD 360-365/MT, CFR Chittagong.
Price assessment of HMS 1&2 from other origins stand at around USD 330/MT, CFR Chittagong. While HMS 1&2 (80:20) from West Africa for which demand was improved last week assessed at around USD 335-337/MT, CFR.
Domestic scrap prices flat on W-o-W basis - Shipyard scrap selling prices assessed flat in the range of BDT 37,500-38,000/MT (USD 445-451), ex-Chittagong basis. Ship plate prices in Chittagong’s market have slightly increased by BDT 300-500/MT against last week and are hovering at around BDT 43,500-43,700/MT for 16 mm, BDT 44,200-44,300/MT for 20 mm and BDT 42,500/MT for 12 mm plate inclusive of local taxes.
Ship Breaking - After observing a quarter of bullish activities, activities in Bangladesh ship breaking industry seemed to be slowing down over the last weeks’ time. Price levels may show softening as most of the buyers have already filled their yards with an array of tonnage and a shortage of capable end buyers. SteelMint’s price assessment stand at USD 440-445/LT for Tankers, USD 450-455/LT for Containers & USD 430-435/LT for Dry Bulk vessels.
source: SteelMint
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