Imported ferrous scrap prices in Bangladesh were flat to down this week as containerised trades were thin.

 

Mills restocked inventories through bulk bookings for the second week. Early this week, a bulk cargo deal with 30,000mt of shredded was reported at $283/mt cfr Chattogram, down by $10-12/mt from the deals reported in the prior week.

 

The Davis Index for containerized shredded scrap settled at $304/mt cfr Chattogram on Friday, unchanged from the prior week. Thin trades for containerized shredded were at $303-305/mt cfr Chattogram. A few yards in the UK and EU offered shredded at $315-320/mt cfr Chattogram, but mills refused to meet those levels.

 

The Davis Index for containerized P&S scrap settled flat at $305/mt cfr Chattogram on Friday, unchanged from the prior week. Bids for P&S subsequently fell to $300/mt cfr Chattogram.

 

The Davis Index for US origin containerized HMS 1&2 (80:20) inched down to $282/mt cfr Chattogram from $283/mt in the prior week. Trades for the same grade from the UK concluded at $278/mt cfr Chattogram early this week.

 

The weekly Davis Index for Australian HMS 1&2 (80:20) settled unchanged at $288/mt cfr Chattogram.

 

The Davis index for Latin American HMS 1&2 (80:20) settled at $275/mt cfr Chattogram, down by $3/mt from the prior week. Offers for Brazilian HMS 1&2 (80:20) increased by $3-5/mt from the prior week as mills raised enquiries. Containerised Brazilian HMS 1 traded at $285-290/mt cfr Chattogram.

 

Domestic ferrous scrap prices in Bangladesh rose this week due to short supply. Generation of scrap through ship breaking lowered as bulk scrap ship trades were subdued for last three weeks.

 

The Davis Index for domestic ship-breaking HMS 1&2 (80:20) settled at BDT30,500/mt Friday inclusive of local taxes ex-yard Chattogram, up by BDT500/mt ($6/mt) from the prior week.

 

The Davis Index for large steelmakers rebar settled at BDT60,500/mt ex-producer, down by BDT500/mt from the prior week. Mills offered a discount of BDT500-1000/mt ($6-12/mt) on the base price to boost trades.

 

($1=BDT85.3)

 

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