Bangladesh Customs have now tighten the local mills for quality of imported scrap. According to the local mills it is heard that the customs have notified the buyers that the scrap that would be imported to Bangladesh should be of ISRI standards.
According to a trader in Bangladesh, “The mills have become cautious on quality of scrap after the customs have notified the mills locally that they would now accept only the scrap cargos which match the quality standards of ISRI (Institute of Scrap Recycling Industries) at Chittagong port, Bangladesh. If not equivalent to the standards of ISRI, the consignment would be rejected.”
There is no official information but the local mills have informed about the same. The Big buyers are hesitating in importing low quality scrap.
Buying is limited in Bangladesh market as the buyers are having a cautious look towards the market. Bangladesh local mills are not willing to buy low quality scrap as they want quality of ferrous scrap to be matching the standards set by ISRI. These factors are leading to low buying activity in Bangladesh
Buyers in the country would prefer more of shredded scrap over HMS. Current offers in Bangladesh for HMS (80:20, Europe) stand at USD 315/MT and USD 330/MT (Shredded, Europe). Currently there are no offers from US and Europe because of the increase in freight of containerized scrap. The offers are mainly from East Asia and Brazil at USD 310-315/MT.
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