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

Bangladesh scrap market has turned active in terms of bulk scrap bookings. The steel market has witnessed another fresh bulk cargo bookings this week.

In a recently concluded deal, a Chittagong based major steelmaker has booked a bulk vessel with 32,000 MT of mixed cargo from a USA origin recycling yard, comprising of Shredded scrap at USD 305/MT HMS scrap at USD 300/MT and Bonus (P&S) at USD 310/MT CFR Chittagong. The shipment for the same is expected in Jan' 20.

Bulk offers for India also stand at mostly similar levels at around USD 305/MT CFR Kandla for Shredded and USD 300/MT CFR for HMS scrap.

Another recent booking of a Japanese cargo to a Chittagong based mill was heard from trade sources, with 23,000 MT cargo mainly comprising of H2 scrap, however the price levels for the same could not be confirmed as yet.

Containerized scrap offers firm - Imported scrap offers to Bangladesh in containers remain stable amid slow trading activity in the last couple of weeks, however market participants believe that buying is expected to improve in the coming days. Offers for Shredded scrap stand at USD 296-300/MT CFR Chittagong.

On the other hand, prices for containerized HMS scrap remain flat, with offers for HMS 1 and HMS 1&2 (80:20) were reported at around USD 285/MT and 275-280/MT CFR respectively.