Bangladesh continues purchasing bulk steel scrap

At least three sales were last week in the range of $423-430 per tonne CFR Bangladesh for HMS 1&2 (80:20) and around $433-435 per tonne CFR for shredded scrap. A further US West Coast deal was done to Bangladesh this week ataround $430 per tonne CFR for 17,000 tonnes of HMS 1&2 (80:20) and $435 per tonne for 10,000 tonnes of shredded. With 5,000 tonnes of bonus grade included, the total size of the cargo was at 32,000 tonnes.

“Over the past month, we have not received many oers from the US West Coast, but now people want to sell here since the Indian market has become a little slow,” a Bangladeshi steelmaker source said.
A major steelmaker was heard to be in the market on Thursday for a
shredded-heavy cargo, a Bangladesh trading source said. But general demand was tepid on the day, with shipbreaking scrap prices falling to 55,000 Bangladeshi taka ($496) per tonne this week.