HBI (Hot Briquetted Iron) import offers to the Bangladesh from Malaysia remains stable, however buying interest is low on anticipation that prices may fall in coming weeks.
“Current offers for HBI is at around USD 330-335/MT CFR Chittagong, however there is limited buying activity. Buyers are anticipating that prices may fall in April. Bangladesh imports about 400,000 MT HBI annually; Abul Khair being the largest importer.” said a trader based in Chittagong.
HBI offers had increased earlier in line with rising scrap and pig iron prices in seaborne market.
Bulk HBI Imports to Bangladesh
Bangladesh imported close to 400,000 MT HBI in 2016. Where as in 2017 (till March), country will be importing about 75,000 MT of HBI. Russia and Malaysia being the largest suppliers to Bangladesh
| HBI BULK IMPORT | ||
| MONTH | 2016 | 2017 |
| JAN | 30,000 | NIL |
| FEB | 93,500 | 50,600 |
| MAR | NIL | *25,000 |
| APR | 80,800 | |
| MAY | NIL | |
| JUN | NIL | |
| JUL | 14,550 | |
| AUG | 46,700 | |
| SEP | 50,000 | |
| OCT | 50,000 | |
| NOV | 33,000 | |
| DEC | NIL | |
| TOTAL | 398,550 | 75,600 |
Qty in MT
*expected
Source: SteelMint Stats, Chittagong port
Provisional data
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