Bangladesh bulk ferrous scrap imports dropped sharply by 61% m-o-m to 0.11 mn t in Feb’21 as compared with 0.28 mn t in Jan’21, as per vessel line up data maintained with SteelMint. Mills remained less aggressive in booking bulk cargoes amid fluctuating offers, which in turn limited bookings.
Out of five bulk vessels that arrived in Feb’21, Netherlands, was the biggest supplier and exported one vessel, carrying 0.04 mn t in Feb’21. US remained the second largest source for Bangladesh scrap imports and exported one vessel with 0.03 mn t of scrap, followed by Japan and New Zealand at 0.02 mn t each.
Bangladesh buyers were not active in bulk scrap market during January as very few bookings were concluded from US and Japan. Though Bangladesh based mills were bidding for US bulk scrap cargoes but bids were lower than those from other markets like Taiwan etc. which attracted US suppliers to prefer over Bangladesh.
Imported scrap prices rose sharply in Jan’21 – SteelMint’s assessment for bulk Japanese monthly H2 scrap price had increased by $40/t m-o-m basis to $480/t, CFR Bangladesh in Jan’21, as per data maintained with SteelMint.
Bangladesh mills raised rebar offers on increased production cost – Major steel mills have increased rebar prices to BDT 66,500/t in Jan’21 vis a vis BDT 62,500/t in Dec’20. Increased production cost had pushed prices higher.
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