Prices for imported scrap in Bangladesh fell by $3-5/mt this week, on subdued demand. Mills stayed away from bulk bookings as they waited for prices to drop further as bulk ferrous scrap cargo prices in Turkey lowered.

 

The Davis Index for containerized shredded scrap settled at $314/mt cfr Chattogram, on Friday, down from $318/mt cfr Chattogram, a week ago.

 

The demand for ferrous scrap is likely to recover in the near term, on increased construction activities. Transactions are likely to increase in February, according to a steel maker.

 

The Davis index for containerized HMS 1 fell by $4/mt and settled $302/mt cfr Chattogram, as suppliers lowered their offers. HMS 1&2 (80:20) from Australia traded at $295/mt cfr Chattogram. The weekly index for HMS 1&2 (80:20) settled at $293/mt cfr Chattogram. Bids lowered to $290/mt cfr Chattogram with limited suppliers available in the market.

 

South American HMS 1&2 (80:20) traded at $290-295/mt cfr Chattogram and P&S 5ft from Brazil was priced at $315-317/mt cfr Chattogram this week.

 

The Davis index for domestic shipbreaking HMS 1&2 (80:20) fell to BDT31,500-32,000/mt ex-yard Chattogram, inclusive of local taxes. The weekly index for billet settled at BDT45,000/mt ex-works Dhaka, up by BDT500/mt.

 

Rebar prices remained unchanged at BDT61,000-62,000/mt ex-works Chattogram from large steelmakers, while the rebar offered by medium-sized steel producers was at BDT54,000-54,500/mt ex-works producer, down by BDT1000/mt, inclusive of taxes.

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