Bangladesh Bulk Ferrous Scrap Imports to Increase in March’17

Bangladesh Bulk Scrap Imports are expected to increase by end of this month as 3 bulk scrap vessels import are lined up.

As per SteelMint Data, In February Bangladesh Bulk Scrap Import was 9,800 MT and Till 21^st March 57,240 MT Scrap discharged at Chittagong Port. 3 more vessel from Netherland (39,400 MT), USA (23,980 MT) & Japan (24,410 MT) are expected by end of March.

Most of the companies in Bangladesh are now running out of stock which may force them to come back to the market by the end of March. Another reason is that there is an Increase in bulk movement of Scrap as in March, 2 vessels already discharged from Chittagong port and 3 vessels are expected to in line up by March end.

According to a trader based in Bangladesh, ‘’ The Companies are in a wait & watch position as the prices are high. And are left with a stock of approx. 15 days after which they would have to buy raw material by 1^st week of April “

Buyers in Bangladesh are preferring domestic scrap in comparison to imported scrap. The offers of Ferrous Scrap for CFR Bangladesh (Australia Origin) for shredded are USD342/MT, HMS USD 335/MT whereas the Offers from US and Europe are said to be at USD 337/MT Approximately.

Forecast
As Per SteelMint analysis, Bangladesh Bulk Scrap Import are expected to be around 0.1 MnT in March’17 against 0.01 MnT in Feb’17

Bangladesh Bulk Scrap Import 2016-2017

Quantity in MT
Source : SteelMint
* – Tentatively