Bangladesh: Bulk scrap imports drop with high inventories at mills

Bulk ferrous scrap imports to Bangladesh were recorded at 0.12 mn t in May’21 against 0.3 mn t in Apr’21. Imports declined sharply by 60% m-o-m, as per vessel line-up data available with SteelMint. Japan and the US were leading scrap suppliers to Bangladesh in May’21 and import bookings in Apr’21 inched down with existing inventory at mills, increasing COVID cases and the lockdown affecting finished steel sales. In addition, trades continued on a slow track in the Ramadan month.