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Proposal to amend Bangladesh steel scrap import price publication times

Fastmarkets proposes to amend the publication time of its Bangladesh steel scrap import price assessments to 4pm UK time from 5-6pm Singapore time currently.

November 15, 2023
By Ross Yeo
Ferrous scrap Pricing notice

The change is being proposed to bring these prices in line with Fastmarkets’ other south Asian steel scrap import assessments in India and Pakistan. All other specifications of the assessments will remain unchanged.

The assessments in question and their proposed specifications are:

MB-STE-0884 steel scrap HMS 1&2 (80:20) containerized import, cfr Bangladesh, $/tonne
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, 4pm UK time

MB-STE-0881 steel scrap HMS 1&2 (80:20) deep-sea origin import, cfr Bangladesh, $/tonne
Quality: HMS 1&2 (80:20 mix) compliant to ISRI specifications 200 – 206.
Quantity: Minimum 20,000 tonnes (bulk)
Location: cfr Chittagong
Timing: Up to 3 months
Unit: USD/tonne
Payment terms: Letter of credit on sight
Publication: Weekly. Thursday, 4pm UK time

MB-STE-0885 steel scrap shredded containerized import, cfr Bangladesh, $/tonne
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, 4pm UK time

MB-STE-0886 steel scrap shredded deep-sea origin import, cfr Bangladesh, $/tonne
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, 4pm UK time

These prices are a part of the Fastmarkets scrap package.

The consultation period for this proposed amendment starts from Wednesday November 15 and will end on Wednesday December 13.

The amendment will then take place, subject to market feedback, on Thursday December 23.

To provide feedback on these prices or if you would like to provide price information by becoming a data submitter, please contact Ross Yeo by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Ross Yeo, re: Bangladesh steel scrap.” Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

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