Bangladesh Books 3rd Bulk Scrap Cargo Within a Week
Just days after the conclusion of 2 US origin Bulk cargoes by a major Chittagong Steelmaker, a fresh bulk vessel booking has been confirmed another Bangladeshi mill, further cementing the drop in imported scrap prices to South Asian markets.
In the latest booking, one of the prominent mills in Chittagong has booked a bulk vessel from a USA (west Coast) based recycler, for April 2020 shipment. The 32,000 MT mixed cargo comprises of Shredded scrap at USD 295/MT and HMS at USD 290/MT CFR Chittagong.
Prior to this, one of the major steelmakers in the country had booked 2 bulk cargoes from 2 different US suppliers, at USD 300/MT and USD 295/MT for Shredded basis respectively, at the closing of last week. The first cargo comprised of Shredded in entirety while the second and was a composite cargo, with both scheduled for April shipments.
South Asian buyers are active for booking bulk scrap bookings in the wake of severe container shortage in the global market. Sources confided that after last week’s historic booking, Pakistani buyers have been negotiating another bulk vessel booking that may conclude soon, while Indian bulk buyers are also in the market for fresh bookings.
source: SteelMint
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