BANGLADESH STEEL SCRAP: More bulk deals at higher prices possible

Prices for bulk cargoes of scrap imported to Bangladesh moved up again over the last week with offer prices from key exporters on the rise, market participants told Fastmarkets.

At least two mills have been shopping around the market for bulk cargoes this week, Fastmarkets understands, with offer prices from both Japan and the United States at higher levels than last week.
Sellers in the US West Coast have largely left the market and are no longer making firm offers to Bangladesh, although on August 26 one South Asian trader said that $315 per tonne cfr Bangladesh for HMS 1&2 (80:20) in bulk may be sufficient for sellers.
Buyers active in the market are willing to pay $310-315 per tonne cfr for HMS 1&2 (80:20) for fresh bookings, and although there is a gap between bids and offers, at least one mill has an immediate need to buy cargoes, sources said.

Fastmarkets' price assessment for bulk cargoes of steel scrap, HMS 1&2 (80:20), deep-sea origin, import, cfr Bangladesh was $308-315 per tonne on...

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