South Asia’s leading bulk ferrous scrap buyer, Bangladesh, recorded 0.39 million tonnes (mnt) of imports in April 2022 compared to 0.41 mnt in the previous month, as per vessel line-up data maintained with SteelMint.
The country’s shipments fell around 5% in Apr. In contrast, on a year-on-year basis, imports jumped by 30% from 0.30 mnt in April 2021.
Country-wise imports
- Imports from USA rise: The USA remained the largest supplier of bulk materials to Bangladesh. A total of 0.19 mnt shipments were recorded in Apr, up 27% from 0.15 mnt in Mar.
- Imports from the Netherlands rebound: Bangladesh imported 0.07 mnt from the Netherlands in Apr in comparison with 0.04 mnt a month back. The country remained the second-largest exporter.
- Imports from UK drop: Imported scrap transactions from UK decreased in Apr by 77% to 0.03 mnt from 0.13 mnt in March 2022. Due to the ongoing Russia-Ukraine trade tensions and increased offers, suppliers are not in a mood to sell their material at a low price whereas buyers need to restock the material before Ramadan.
Price trends
SteelMint’s monthly average price assessment for USA-origin Bulk HMS(80:20) scrap stood at $690/t CFR Chittagong in March 2022, as against $570/t CFR in Feb.
Outlook
The bulk scrap market in Bangladesh slowed down since mid-Apr’22 after 4-5 bulk cargoes were booked from the USA. Sufficient scrap bookings and subdued finished steel sales kept mills active in container bookings later in April. The next round of bookings may be seen after market participants return after the Eid holidays.
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