Prices for steel scrap imported into Bangladesh were boosted this week by a strong domestic market in the South Asian country, sources told Fastmarkets on Friday November 5.
Bangladesh's local shipbreaking scrap prices were heard this week at 53,500-54,700 taka ($613-627) per tonne ex-yard including VAT, which a leading Bangladeshi trader said was an all-time high.
It surpassed the previous record high of 53,200 taka per tonnes seen on October 26, he added.
Finished steel prices have also gone higher in Bangladesh. "The price is going up here for rebar, with most manufacturers' prices at 75,000-76,000 taka per tonne ex-works today," a Bangladeshi steelmaker source told Fastmarkets on November 3.
By Friday, the trading source said, prices from large Chattogram-based mills had reached 77,000 taka per tonne ex-works, up from prices of 73,500-74,500 taka per tonne on October 26.
The strong local market,...