New transactions concluded for containerized steel scrap cargoes sold to Bangladesh fetched lower prices over the past week, sources told Fastmarkets.
Buyers in Bangladesh, Pakistan and India have been successful in the past week in their attempts to reduce import prices for containerized scrap.
“Asian mills appear to be winning in this round of buying,” a trading source in the United States said.
At least two Bangladeshi steelmakers booked imported shredded scrap in containers at $480 per tonne cfr for United Kingdom material at the beginning of this week. A deal in the middle of the week involving 3,000-4,000 tonnes of shredded scrap was heard at $476 per tonne cfr.
BANGLADESH STEEL SCRAP: Prices slide despite high freight costs New transactions concluded for containerized steel scrap cargoes sold to Bangladesh fetched lower prices over the past week, sources told Fastmarkets. Buyers in Bangladesh, Pakistan and India have been successful in the past week in their attempts to reduce import prices for containerized scrap.
“Asian mills appear to be winning in this round of buying,” a trading source in the United States said.
At least two Bangladeshi steelmakers booked imported shredded scrap in containers at $480 per tonne cfr for United Kingdom material at the beginning of this week. A deal in the middle of the week involving 3,000-4,000 tonnes of shredded scrap was heard at $476 per tonne cfr.
BANGLADESH STEEL SCRAP: Bulk market in standoff amid high prices High prices for deep-sea cargoes of scrap are preventing fresh deals involving bulk shipments into the key Bangladesh import market, sources have told Fastmarkets. A bid for a bulk cargo of shredded scrap from the United States was heard at $490 per tonne cfr Bangladesh over the last week, but no sales were concluded. Sellers said on Thursday March 4 that acceptable prices for bulk cargoes of shredded scrap were no lower than $500-510 per tonne cfr Bangladesh.
Seller indications were as high as $510-520 per tonne cfr Bangladesh for US-origin composite deep-sea cargoes comprising a mixture of heavy melting scrap 1&2 (80:20) and shredded scrap, a South Asian trading source said.
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Turkey has returned to the United States' deep-sea ferrous scrap export market, with two mills purchasing cargoes from the East Coast at significantly higher prices this week.