PRICING NOTICE: Launch of three new Bangladesh ferrous scrap prices

Fastmarkets today launches two new prices for import containerized scrap and one for deep-sea bulk scrap, all on a cfr Bangladesh basis.

The new prices will build on the success of Fastmarkets’ price reporting on the Bangladesh import market for HMS 1&2 (80:20) scrap, which started on Thursday March 19.

During Fastmarkets’ coverage of the import deep-sea bulk market for HMS 1&2 (80:20), several market participants expressed interest in Fastmarkets expanding our pricing expertise into the import containerized scrap markets.

The addition of the prices, which will be published in line with International Organization of Securities Commissions (Iosco) standards and benchmark regulations, will reinforce Fastmarkets’ position as the leading global price reporting agency for Asia’s ferrous scrap markets.

After undertaking an extensive consultation period that began on August 21, Fastmarkets has launched ferrous scrap prices with the below specifications.

Assessment: Steel scrap shredded deep-sea origin import, cfr Bangladesh
Quality: Shredded scrap compliant to ISRI specifications 210-212
Quantity: Minimum 2,000 tonnes (bulk)
Location: cfr Chattogram
Timing: 3-6 weeks
Unit: $/tonne
Payment terms: Letter of credit on sight
Publication: Every Thursday, 5-6pm Singapore time

Assessment: Steel scrap shredded containerized import, cfr Bangladesh
Quality: Shredded scrap compliant to ISRI specifications 210-212
Quantity: Minimum 50 tonnes (in containers)
Location: cfr Chattogram
Timing: 3-9 weeks
Unit: $/tonne
Payment terms: Letter of credit on sight
Publication: Every Thursday, 5-6pm Singapore time

Assessment: Steel scrap HMS 1&2 (80:20) containerized import, cfr Bangladesh
Quality: HMS 1&2 (80:20 mix) compliant to ISRI specifications 200-206
Quantity: Minimum 50 tonnes (in containers)
Location: cfr Chattogram
Timing: 3-9 weeks
Unit: $/tonne
Payment terms: Letter of credit on sight
Publication: Every Thursday, 5-6pm Singapore time

The first date of assessment for the Bangladesh price will be on Thursday September 24. The price will be published on a weekly basis on Thursdays at 5-6pm Singapore time.

As part of the consultation process for the launch of these prices, extensive feedback from market participants also clearly indicated that to best serve the market more generally, a minimum tonnage of 2,000 tonnes should be adopted for Fastmarkets’ existing assessments for deep-sea HMS 1&2 (80:20) cfr Bangladesh and South Korea.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to any of these prices, please contact Lee Allen by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Lee Allen, re: Bangladesh and scrap prices.’

To see all Fastmarkets’ pricing methodology and specification documents, go to www.fastmarkets.com/about-us/methodology.

What to read next
Fastmarkets advises that, as of Friday November 8, certain monthly North American ferrous scrap assessments had yet to be settled.
On Friday November 8, 2024, Fastmarkets published MB-STE-0232 Steel scrap No1 busheling, consumer buying price, delivered mill Chicago, $/gross ton.
Fastmarkets has corrected some US biodiesel prices that were published incorrectly on Friday November 1.
Fastmarkets is inviting feedback on the pricing methodology for MB-AL-0004 aluminium P1020A premium, in-whs dp Rotterdam and MB-AL-0346 aluminium P1020A premium, in-whs dup Rotterdam ahead of the definitive period of the European Union’s Carbon Border Adjustment Mechanism which starts from January 2026.
Fastmarkets proposes to assess and publish its graphite electrodes, high power, fob China and graphite electrodes, ultra high power assessments on a monthly basis, rather than on the previous fortnightly basis. The proposal follows Fastmarkets’ observations that these two commodities see inactive spot liquidity and low volatility in prices. The proposed new specifications for the […]
The publication of Fastmarkets’ MB-PB-0086 lead 99.99% ingot premium, cif India and MB-PB-0087 lead 99.97% ingot premium, cif India assessments for Tuesday November 5 were delayed due to a reporter error.