BANGLADESH STEEL SCRAP: Competitive bulk prices lead to spate of deals

Steelmakers in Bangladesh piled into the deep-sea bulk import market during the week to Thursday June 24, picking up several cargoes at slightly lower prices, sources told Fastmarkets.

The rush for bulk material comes after certain mills picked up large tonnages of containerized scrap in recent weeks amid high capacity utilization rates in the country at major producers.
With containerized scrap prices riding high - particularly for shredded material - Bangladeshi mills were able to pick up shredded in bulk at a discount to the price they would need to pay in the container market.
At least three deep-sea cargoes were sold to Bangladesh from the United States West Coast in the past week at prices of $540-545 per tonne cfr for shredded, sources said.

One such deal was a 35,000-tonne cargo comprising 7,000 tonnes of heavy melting scrap 1&2 (80:20) priced at $535 per tonne cfr, 18,000 tonnes of shredded scrap...

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