Bangladesh: Importers Turn Active for Bulk Scrap Bookings
In recent conversation with industry participants SteelMint learned that steel mills in Bangladesh have turned active for bulk bookings. It is learnt that 2 bulk cargos for ferrous scrap were booked recently from USA and Japan, to Bangladesh
Bangladesh has raised its ferrous scrap imports significantly in last 2 months amid improved demand for post-Eid production and rise in finished steel prices post imposition of additional taxes. Prior to this it was reported that around 80,000-90,000 MT of mixed bulk scrap was purchased in bulk cargoes.
Seven bulk scrap vessels reported to arrive in July’19 - As per bulk vessel line up data compiled by SteelMint, so far total 7 bulk scrap import vessels comprising total 205,084 MT are reported to be arriving in Bangladesh in July’19. Reportedly, these cargoes were booked in May-June’19, which are being delivered this month, witnessing sharp rise in ferrous scrap imports in the country.
As per the data, out of 7 vessels, three were booked from USA while another two were booked from Japan and one each from UK and Australia respectively. USA remained the largest bulk scrap supplier to Bangladesh.
Two vessels, Royal Harmony and Tanh bin 236 from USA and Japan comprising 47,800 MT have already arrived at berth on 8th and 10th July. Another 4 vessels comprising 128,984 MT are at Anchorage status while a vessel T Prime from Australia is expected to arrive at berth comprising 28,300 MT ferrous scrap on Chittagong port on 18th Jul’19.
After arrival of the said vessels, the total bulk ferrous scrap imports to Bangladesh will sum up to 205,084 MT in Jul’19 observing a jump in inventories of ferrous scrap, while bulk scrap imports in June’19 stood at 145,824 MT.
source: SteelMint
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