Friday 22 November 2024 - 07:26

Date: 08 December 2018 , 23:19

News ID: 2853

NEWS SERVICE: MINES and MINERALS

Bangladesh : Imported Scrap Offers Stable, Bulk Scrap Imports Up 46% in Nov'18

SteelMint learned in recent conversations with industry participants that limited trades for containerized scrap concluded at stable prices in Bangladesh this week. However, sentiments remain moderate amid limited inquiries in the local market by end customers.

Offers for containerized Shredded 211 scrap from Europe and USA stand stable in the range USD 355-360/MT, CFR Chittagong. However, last week minor quality trades were booked in the range USD 350-355/MT, CFR. Supplier expectations remain firm at around USD 360/MT from USA and Canada amid limited availability.

P&S scrap of USA origin is being offered at around USD 365/MT, CFR stable W-o-W. According to sources, offers for HMS 1 stand slightly up at USD 345/MT, CFR Chittagong as against last week’s report at USD 340-345/MT, CFR. Containerized HMS 1&2 (80:20) from South America was offered at around USD 335/MT, CFR for end Jan’19 shipments.

Bulk ferrous scrap imports up 46% in Nov’18 - According to port data maintained with SteelMint, Bangladesh imported total 128,552 MT bulk ferrous scrap in Nov’18, up 46% M-o-M as against 88,178 MT bulk ferrous scrap in Oct’18. Four bulk scrap vessels arrived to berth on the Chittagong port in Nov’18. With rising steel capacities and increased dependence on secondary steel production, the country has been observing a sharp rise in scrap imports in FY19.

Bangladesh observed the first export shipment of bulk mill scale in last one and half year comprising 42,000 MT volume in Nov'18 loaded from Chittagong port for Vietnam delivery. On the other hand, bulk billet imports continue nil volumes since last four months.

Bulk ferrous scrap imports cross 1 MnT mark during Jan-Nov’18 - The country imported 1,014,314 MT bulk ferrous scrap during Jan-Nov’18 against 890,004 MT during Jan-Nov’17. Top ferrous scrap exporters were USA, UK, Japan and Russia.

Domestic ship breaking scrap prices stand around BDT 35,000/MT levels inclusive of taxes while local scrap assessed marginally up at around BDT 35,500-35,800/MT (USD 424-428), ex-works as against the last report.

Local ship cutting plate prices stand unchanged on a weekly basis. Prices stand at around BDT 41,500-41,600/MT for 16 mm, at around BDT 40,500/MT for 12 mm and at around BDT 42,500-42,700/MT for plate thickness 20 mm & above.

Indian Sponge iron export offers to Bangladesh slightly increased following a surge in domestic prices and the latest offers reported at around INR 360-365/MT as against last week at USD 355-360/MT, CFR Chittagong.

Ship breaking prices continue downtrend - The assessment for ship cutting prices fell further by USD 5-10/MT W-o-W. It stands at USD 420/LDT for general dry bulk cargo, at USD 430/LDT for tanker cargo and at USD 440/LDT for containers on CNF Bangladesh basis. The market is expected to remain silent until the conclusion of the upcoming elections on 30th Dec’