Bangladesh: Bulk Ferrous Scrap Imports Fall 78% in Apr'19
As per the vessel line up data compiled by SteelMint, Bangladesh has observed a sharp fall in bulk imports of ferrous scrap and coal on monthly premises in Apr’19.
Sentiments for bulk imports and also in the domestic steel market turned slow in April amid the arrival of monsoon as compared to those were seen during the first quarter in the country.
Bulk ferrous scrap imports drop 78% M-o-M - The country imported 31,870 MT bulk ferrous scrap in Apr’19 observing a sharp fall of 78% M-o-M as against 146,000 MT bulk scrap imports recorded in Mar’19. After arrival of 5 cargoes in Mar’19, a single bulk scrap cargo named ‘La Bamba’ has arrived at berth comprising 31,870 MT ferrous scrap from USA on 8th April. While few steel mills reported to have booked two bulk cargoes in Apr’19 in preparation of post-Ramadan production activities.
Bangladesh continued aggressive buying of large LDT ships for breaking activities on cheaper availability of labour paying quite a high margin over other subcontinent markets for yet another month. Possibility of the imposition of new taxes and duties in the steel sector brings sentiments down, however, few participants still believe that actual outcome might be interesting to watch in the final budget scheduled in early June.
Bulk coal imports fall 68% M-o-M - Country’s coal imports dropped 68% M-o-M to 285,200 MT in Apr’19 against 899,405 MT in Mar’19. The country observed second successive fall after recording highest-ever volume of over 1 MnT in Feb’19. Bangladesh’s appetite for imported coal lowered sharply witnessing lowest coal imports in April so far in CY19 after accumulating significant inventories during Feb-Mar’19.
Indonesia was only the supplier of coal to Bangladesh supplying six bulk cargoes in Apr’19. however, Indonesian coal export volume fell 60% M-o-M against 729,520 MT in Mar’19. South Africa supplied nil volume of coal in Apr’19.
Closure of coal sales to the local market by Bangladesh’s coal producer, Barapukuria Coal Mining Company, had supported higher import volume in Q1-CY19.
Bulk steel coil (HRC) imports observe second successive rise - The country imported 85,846 MT bulk steel coil in Apr’19, up 9% M-o-M against 78,548 MT in Mar’19. Two out of four cargoes arrived at berth were booked from Japan (43,740 MT) while Taiwan (24,146 MT) and Malaysia (17,960 MT) supplied one cargo each in Apr’19.
No bulk HBI import vessel has arrived at berth in April and the country continues to observe nil volume of bulk billet imports since last 9 months. A vessel carrying 33,000 MT Pig iron which was booked from India arrived at berth in April. While a single vessel named Pioneer Dream was at anchorage position carrying 10,458 MT HRC from India as on 27th Apr'19.
source: SteelMint
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