The Bangladesh scrap import market remained quiet in Feb 2017 owing to high volatility in prices, but mills are expected to restart buying soon.
Market participants mention that mills have not taken position in the month of Feb, but are expected to book cargoes next week onwards.
“Global scrap prices have been recovered by about USD 20/MT in the last one week. Also Chinese markets are on an upward trend. Bangladesh mills will return to market soon, possibly from next week.” Said a trader based in Chittagong, Bangladesh.
Current offers for containerized shredded scrap are at around USD 290/MT CFR Chittagong from Europe and US, where as HMS offers are in the range of USD 265-270/MT CFR, he added.
Bulk Scrap Imports
Bangladesh is very promising market for ferrous scrap imports, both containerized and bulk. Country imports around 1.5-2 million tonnes of scrap and these numbers are increasing every year. Out of this, bulk scrap imports account for 35-40% of total imports.
According to data maintained by Steelmint, Bangladesh booked about 32 bulk scrap cargoes carrying about 720,000 MT in 2016 (Jan-Dec).
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