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Soaring freight rates and the Gulf conflict have driven up Bangladesh's scrap steel import prices, while the Baltic Dry Index continues to rise.

Category: Blog

Time:2026-03-06

Data released on March 6 showed that, as of the week ending March 5, import prices for scrap steel in Bangladesh had risen. Rising shipping rates and tighter supplies from major exporting countries—especially Australia—led to stronger bid prices for containerized scrap steel. Suppliers cited uncertainty in shipping costs triggered by the Gulf conflict as the reason for their price increases, while buyers selectively returned to the market to replenish their inventories.

Data released on March 6 showed that, as of the week ending March 5, import prices for scrap steel in Bangladesh have risen. Rising shipping rates and tighter supplies from major exporting countries—particularly Australia—have led to stronger bid prices for containerized scrap steel. Suppliers have raised prices, citing uncertainty in shipping rates triggered by the Gulf conflict, while buyers have been selectively returning to the market to replenish their inventories.

　　Weekly Assessment

　　The assessed price for 80:20 remelted scrap steel from European sources is USD 360 per ton (CFR), up USD 4 from the previous week.

　　The assessed price for container-grade shredded material from European sources is USD 380 per ton (CFR), up USD 4 from the previous week.

　　The assessed price for H2 bulk cargo from Japan is USD 358 per ton (CFR), up USD 6 from the previous week.

　　The U.S.-sourced 80:20 re-melt scrap steel bulk assessment price is $380 per ton (CFR), up $5 from the previous week.

　　Market Commentary

　　Australian scrap steel quotations in Chittagong CFR are around USD 383–385 per ton, while Australian 80:20 remelt scrap steel is reportedly trading at USD 360–365 per ton. One transaction involving 1,000 tons of Brazilian-origin 90:10 remelt scrap steel was concluded at approximately USD 365 per ton (CFR), and another transaction for 500 tons of Philippine-origin galvanized baling scrap was completed at USD 335 per ton (CFR).

　　Indicative market prices show that 80:20 remelt scrap steel is trading at $355–360 per ton CFR, No. 1 remelt scrap steel at $365–370 per ton, shredded scrap around $372–373 per ton, and plate scrap near $378–380 per ton. Some suppliers are still attempting to negotiate for higher prices.

　　An Australian supplier noted that currently, most shipments from the Australia-New Zealand region are heading to Bangladesh, reflecting stronger purchasing interest in the Chittagong market compared to other Asian destinations.

　　However, purchasing sentiment remains divided. A buyer of bulk scrap steel in Chittagong noted that although a recent deal for 80:20 remelt scrap steel originating from the U.S. West Coast was struck at around USD 375 per ton (CFR Chittagong), most steel mills are currently reluctant to accept this price due to volatile market sentiment and uncertainty about short-term price trends.

　　Rolled scrap steel prices remain firm, with steel plate sourced from Hong Kong reportedly trading around USD 430 per ton CFR, while offers from Singapore are at approximately USD 450 per ton.

　　Market participants said steel mills have resumed limited procurement to secure their near-term raw material needs, but most buyers remain cautious amid ongoing uncertainty in global scrap steel shipments.

　　Domestic market

　　Steel prices in Bangladesh remain relatively stable. The assessed price of rebar in Chittagong is approximately 83,000 taka per ton (US$678), while the price of steel billets is around 75,000 taka per ton (US$613).

　　Outlook

　　Although steel mills remain cautious about actively increasing purchases, supported by rising oil prices and freight rates as well as tightening supply from the U.S., Australia, and New Zealand, Bangladesh’s scrap steel import prices are expected to remain firm in the coming days.

Keywords: Soaring freight rates and the Gulf conflict have driven up Bangladesh's scrap steel import prices, while the Baltic Dry Index continues to rise.

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Soaring freight rates and the Gulf conflict have driven up Bangladesh's scrap steel import prices, while the Baltic Dry Index continues to rise.

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