The Davis Index for containerised shredded scrap cfr Chattogram settled Friday at $318/mt, unchanged from the prior week. No bulk cargo bookings were reported into Bangladesh amid high scrap inventories and sufficient seaborne scrap scheduled for delivery over the next six weeks .
Still, the Davis index for containerised #1 HMS rose by $10/mt to $305/mt cfr Chattogram, fuelled by stronger domestic markets in the US and Europe.
HMS 1&2 (80:20) from South America traded at $290-295/mt cfr Chattogram and P&S 5ft traded at $320-325/mt cfr Chattogram this week.
Early in the week, Bangladesh’s local shipbreaking scrap prices rose in response to tightening supply, but ended the week $5/mt lower as the price increase secured needed supply.
The Davis index for domestic shipbreaking HMS 1&2 (80:20) settled at BDT32,000-32,500/mt ex-yard Chattogram, inclusive of local taxes. The weekly index for billet settled at BDT44,500-45,000/mt ex-works Dhaka.
Rebar prices were unchanged for the week at BDT61,000-62,000/mt ex-works Chattogram for large steelmakers, while medium-sized steel producers offered rebar at BDT55,000/mt ex-works.