Scrap importers in Bangladesh have turned active this week and are heard to have booked aggressively 3-4 bulk vessels from Japan and Europe at levels of USD 300/MT, CFR Bangladesh.
Rising steel capacities of electric arc furnaces in Bangladesh is escalating scrap imports to country. Bangladesh Steel Re-Rolling Mills (BSRM) is one of the largest steel producing company in the country with an installed capacity of around 1.1 MnT. Company is likely to expand its production capacity to 1.45 MnT by 2017. As per sources, the additional capacities are likely to become operational in Aug’17.
Current offers for containerized cargoes of HMS – 1 of Canada, South Africa and Australian origin are heard to be at around USD 297-298/MT, CFR Bangladesh. Shredded scrap offers are at around USD 310/MT, CFR Bangladesh. P & S scrap offers of US origin are at USD 312-315/MT CFR Bangladesh.
Indian imported scrap offers stable; demand remains subdued – Current offers for containerized Shredded scrap are at USD 295/MT CFR India, and for bulk shredded scrap offers are at USD 290/MT, CFR India. HMS 1&2 at USD 275/MT CFR basis from Middle east. HMS 1&2 offers from Europe are at USD 270/MT CFR India.
Imported scrap offers to Pakistan remain stable – HMS 1 scrap offers from Middle East to Pakistan are heard at USD 280/MT, CFR and USD 270-275/MT, CFR for HMS 1& 2 from Europe. Shredded scrap offers are at USD 295-300/MT, CFR Pakistan.
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