According to Mining News Pro -SteelMint learned in recent conversations with industry participants that imported scrap market in Bangladesh has slowed down on dull sentiments in local steel market. Very limited trades heard at almost range bound prices and no major deal was reported this week. Offers keep hovering by the range of USD 10/MT and buying interest stands below USD 5-10/MT than current prevailing levels.
Containerized Shredded 211 from Canada was being quoted as high as around USD 380/MT, CFR Chittagong. While limited offers for UK/Europe origin Shredded assessed in the stable range of USD 370-375/MT, CFR. Buying interest stands at around USD 370/MT, CFR.
South Africa and Dubai origin HMS 1 offers heard in the range of USD 350-355/MT, CFR Chittagong.
Bangladesh local scrap prices remain unchanged - Local scrap prices heard at around BDT 35,000-35,500/MT (USD 417-422) while local ship yard melting scrap heard at around BDT 34,500/MT, stable as against last weeks` report inclusive local taxes.
Local rebar market still stands subdued without much movement after heavy rains and cyclone last week.
Local ship cutting plate prices stable W-o-W - Ship cutting plate prices remained almost stable on weekly basis. Latest prices assessed at BDT 42,300/MT for 16 mm, at BDT 41,300/MT for 12 mm and at around BDT 43,200-43,300/MT for plate thickness 20 mm & above.
Ship breaking market observes few deals at stable prices - Chittagong’s ship cutting market continued to dominate the overall purchasing trend in Asian region in this week. Ship cutting prices assessed stable at USD 440/LDT for general dry bulk cargo, at USD 450/LDT for tanker cargo and at USD 460/LDT for containers on CNF Bangladesh basis.
Two sales comprising of 40,712 LDT VLCC and 7,771 LDT container fetching decent prices have been reported last week. However, after witnessing lot of tonnage beached in past few weeks, availability of both yard space and capable local buyers able to open large Dollar value L/Cs are becoming hard to find in Chittagong market.
