BANGLADESH STEEL SCRAP: Mills book raft of bulk cargoes, prices inch down

Mills in Bangladesh purchased three bulk cargoes in the last week, with prices easing gently, sources told Fastmarkets on Thursday January 14.

Low scrap inventory, together with continuing difficulties in obtaining containers and ballooning shipping rates, led several steelmakers in the South Asian country to inquire for tonnages in bulk.
A Bangladeshi mill booked a 38,000-tonne composite cargo at an average price at $503 per tonne cfr from the United States West Coast in the last week. The cargo was a mix of HMS 1&2 (80:20) and shredded scrap, with the HMS component priced at $500 per tonne cfr Bangladesh.
The same mill also booked a cargo of 22,000 tonnes from a supplier based in Australia and New Zealand, comprising HMS 1&2 (80:20) at $500 per tonne cfr Bangladesh and $505 per tonne cfr for shredded scrap.

Offer prices to the country, which were as high as $520 per tonne cfr Bangladesh for a composite cargo of HMS 1&2 (80:20) and shredded scrap last...

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