SteelMint learned from recent conversation with market participants in Bangladesh that this week imported ferrous scrap market is witnessing fewer inquiries as most of the traders have already booked quite volumes of materials through the vessels reported earlier in last two weeks.
Current assessment for HMS 1&2 from Brazil in containers is at USD 335/MT, CFR Chittagong. While offers for Shredded scrap are heard around USD 360/MT, CFR Chittagong. Some offers for premium grades of scrap remain hovering on the levels higher by USD 5 than offered for Shredded scrap. Offers for P&S scrap for Brazil origin stood at USD 360-362/MT, CFR Chittagong.
“Scrap importers based in Bangladesh will resume bulk bookings only after a month as there is a port congestion issue with bulk vessels. Thus they are preferring containers over bulk cargoes owing to port congestion.This week Bangladesh based steel mills are quiet as they had booked considerable quantities in last week”, shared a Bangladesh based market source.
Bangladesh is one of the fastest emerging markets in terms of the steel industry. The country has sharply increased its ferrous scrap imports in this fiscal. As per customs data Bangladesh had almost doubled its ferrous scrap imports to 41,600 MT in Aug’17 against 20,050 MT imports in Jul’17.During Jan-Aug’17, the country has imported 0.48 MnT ferrous scrap, up 7% against 0.45 MnT ferrous scrap imports during the same time frame in CY16.
According to vessel line up data, 8 vessels carrying 201,220 MT ferrous scrap have already arrived at anchorage on the port of Bangladesh.
Bulk ferrous scrap import in Bangladesh – Vessel Line up
| Vessel Name | Country | Load Port | Quantity In MT | Date | Status |
| New Leader | USA | Oakland | 31,300 | 05-Aug’17 | Berth |
| Tan Binh 127 | Japan | Kanda | 10,300 | 14-Aug’17 | Berth |
| Unicorn Ocean | USA | Tacoma | 35,200 | 07-Sept’17 | Berth |
| Elisabeth C | UK | Liverpool | 29,550 | 14-Aug’17 | Anchorage |
| New Inspiration | USA | San Francisco | 31,850 | 25-Aug’17 | Anchorage |
| Intrepid Joanne | Japan | Nishi | 25,000 | 26-Aug’17 | Anchorage |
| Harmony SW | Japan | Kinnura | 9,500 | 27-Aug’17 | Anchorage |
| Cielo Di Venezia | USA | Tacoma | 34,800 | 27-Aug’17 | Anchorage |
| La Bamba | USA | Los Angeles | 32,000 | 28-Aug’17 | Anchorage |
| Rich Ocean 17 | Japan | Kawasaki | 9,310 | 06-Sept’17 | Anchorage |
| Otago Harbour | USA | Oakland | 29,210 | 14-Sept’17 | Anchorage |
Provisional Data
Source: SteelMint Stats
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