Bangladesh Mill Books 32,000 MT Bulk Scrap Cargo from US

Bangladesh's bulk scrap market has remained quite active over the last one month with several bulk vessel bookings for November and December shipments being concluded, despite of the ongoing uptrend in prices.

As per sources, around 10 bulk bookings (including 6 smaller cargoes from Japan) were concluded to Bangladesh in Oct’19, while another bulk vessel has now been reported to have concluded earlier this week at further increased price levels.

In the latest deal reported, a major Chittagong based steelmaker has concluded a bulk vessel from a prominent USA based supplier, booking a total of 32,000 MT of shredded scrap in entirety, at USD 295/MT, CFR Chittagong. The cargo is expected for December shipment from USA west coast .

Fresh offers for bulk vessels of scrap have now climbed up further amid global supply tightness and currently stand at USD 305-310/MT CFR Chittagong and CFR Nhava Sheva for Shredded scrap.

Containerized scrap offers rise further - Earlier this week, offers for containerized shredded to Bangladesh stood in the range of USD 295-300/MT CFR Chittagong, however, as the week progressed, most offers are now around USD 305/MT CFR. Offers for P&S scrap are now at USD 310/MT CFR.