Imported ferrous scrap market in Bangladesh is observing thin trade activities but reduced bulk bookings this week. Price assessment for Shredded scrap (ISRI 211) in containers has come down by USD 12-15/MT this week to USD 330-333/MT, CFR Chittagong against USD 345/MT last week.
Current assessment for HMS 1 from UK & Brazil in containers is at USD 328/MT, CFR Chittagong. Offers for P&S scrap heard at USD 332/MT for Brazil and UK origins. A source shared that HMS (80:20) materials sold at USD 310/MT, CFR in Bangladesh this week.These offers are down by USD 15-20 on W-o-W basis.
Offers for HMS assessed at USD 310/MT, CFR Chittagong while some offers for Australia origin HMS 1&2 (80:20) heard at USD 325/MT, CFR Chittagong. A Bangladesh based steel maker shared that yesterday a deal for containerized HMS of US origin was concluded at USD 320/MT, CFR.
“Scrap importers based in Bangladesh shown substantial scrap buying interest this week. Most of them wanted to book cargoes but owing to fewer offers it hasn’t worked out. Steel mills are using scrap from available inventories and the vessels that have unloaded recently.” -shared a Bangladesh based market source.
Another Bangladesh based scrap trader highlighted that freight charges have increased now from UK, Europe and Brazil mostly due to port congestion at Chittagong port, owing to which Bangladesh based steel mills have resisted booking fresh vessels.
Bangladesh ferrous scrap imports Up 156% M-o-M in Sept’17-
As per recent customs data, Bangladesh has witnessed the hike in its bulk ferrous scrap imports by almost 156% in Sept’17.Three bulk vessels unloaded in Sept’17 carried 106,520 MT ferrous scrap at Chittagong port in Bangladesh against 41,600 MT ferrous scrap imports in Aug’17.
During Jan-Sept’17, Bangladesh imported 588,634 MT ferrous scrap thus about 16% Y-o-Y increase has been registered against 0.5 MnT imports during the same period of CY16.
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