Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Prices for container scrap imports to Bangladesh fell by upto $10/mt this week, in step with a fall in global prices by $14/mt from the week prior. 

A west coast-based supplier in the US sold 32,000mt of cargo to a leading steelmaker in Bangladesh, comprising of HMS 1&2 (80:20) at $305/mt cfr Chattogram; shredded at $310/mt cfr and P&S at $315/mt cfr Chattogram. Weak demand in Turkey and higher stocks of scrap with the US yard, led to this bulk deal in Bangladesh. 

Japanese ferrous scrap prices remained competitive over the US’ for Bangladesh mills. Two busheling scrap bulk cargoes of 10,000mt each, concluded at $313-315/mt cfr Chattogram this week. In the prior week, busheling scrap was priced at $323-325/mt cfr Chattogram.  

The Davis Index for containerised shredded scrap settled at $304/mt cfr Chattogram, on Friday, down from $314/mt cfr Chattogram, a week ago.
The Davis index for containerised HMS 1 fell by $8/mt and settled $294/mt cfr Chattogram on weak demand from steel mills. 

The weekly index #1 HMS settled at $294/mt cfr Chattogram down by $8/mt from a week ago. Australian containerised HMS 1&2 (80:20) traded at $290-293/mt cfr Chattogram. 
South American containerised HMS 1&2 (80:20) traded at $285-287/mt cfr Chattogram in the second half of the week, down from $290/mt cfr Chattogram early in the week. 
The weekly index for HMS 1&2 (80:20) settled at $285/mt cfr Chattogram.

P&S 5ft from Brazil was offered at $315/mt cfr Chattogram this week. 
The Davis index for domestic shipbreaking HMS 1&2 (80:20) remained unchanged at BDT31,500-32,000/mt ex-yard Chattogram, inclusive of local taxes. 
The weekly index for billet settled at BDT45,000/mt ex-works Dhaka. Supply from ship breaking activities remained high amidst a pick-up in bulk sales in the beginning of January 

Rebar prices remained unchanged at BDT61,000-62,000/mt ex-works Chattogram from large steelmakers, while rebars offered by medium-sized steel producers was at BDT54,000-54,500/mt ex-works producer, inclusive of taxes, unchanged from a week ago.


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