Rising freight costs and increased buying interest from neighboring Asian markets led to an increase in Bangladesh import steel scrap prices in recent days, sources said on Thursday October 7.
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Containerized imports of scrap were sold to Bangladesh at higher prices in recent days, sources said.
HMS 1&2 (80:20) in containers was sold at $515 per tonne cfr Bangladesh this week, while UK-origin HMS 1&2 (80:20) was sold at $525 per tonne cfr.
Fastmarkets' price assessment for
steel scrap HMS 1&2 (80:20), containerized, import, cfr Bangladesh was $515-525 per tonne cfr on October 7, up by $23-25 per tonne from $492-500 per tonne one week before.
Market participants blamed a rise in freight costs for the increase.
Spot quotations...