The largest steelmakers in Bangladesh were largely out of the market for containers of steel scrap on Thursday September 16 following recent deep-sea cargo bookings, market participants have told Fastmarkets.
In deals done last week, two deep-sea cargoes were booked to a mill in Bangladesh from the United States West Coast at $530 per tonne cfr for shredded, while a second mill booked deep-sea material from Australia and New Zealand at $515 per tonne cfr for HMS 1&2 (80:20), sources said.
This latest round of buying was done at prices lower than sales from the US West Coast in early August, in which deals were done around $540-542 per tonne cfr Bangladesh for HMS 1&2 (80:20), sources said.