Very active bulk bookings in Mar’20 contributed to the highest monthly imports recorded in Jun ’20.
Bangladesh’s bulk ferrous scrap imports witnessed an increase by 50% m-o-m in Jun ’20. The country recorded its highest ever monthly bulk scrap import in Jun ’20, with 315,847 t of scrap arriving to berth via the bulk route in 13 vessels, as per the vessel line up data maintained with SteelMint.
Out of the total of 13 bulk vessels arriving in the month, the USA exported seven bulk scrap cargoes, carrying 231,162 t in Jun ’20, sharply up by 247% m-o-m. Another major supplier Japan exported six vessels with 84,685 t of scrap, up by 14% m-o-m.
On a yearly basis, the bulk scrap imports witnessed a sharp increase by 117% y-o-y in Jun’20, doubling against 145,824 t in Jun ’19.
SteelMint had reported earlier this year, that Bangladesh had booked more than 360,000 t of bulk scrap in March 2020 at favorable prices mostly from USA, Japan and Australia. Out of this, some bulk cargoes had arrived to Chittagong port in May ’20, while the rest of the bulk cargoes arrived in Jun ’20.
After a gap, Bangladeshi buyers then returned back to bulk scrap market in the second of Jun ’20, booking a couple of USA origin cargoes and some Japanese origin vessels since then. Meanwhile, offers for the bulk scrap to Bangladesh currently stand at around $275/t CFR fro USA west coast origin shredded scrap.
However, earlier today it was reported that USA west coast scrap prices have rebounded again, after moving down last week and offers to Bangladesh may rise again.
Coal: Bangladesh’s coal imports observed a significant decline by 69% m-o-m. The country imported 54,700 t in Jun ’20 as against 171,746 t in May ’20. Notably, this is the lowest quantity of coal imports recorded since Sept’ 20. Indonesia remained only the supplier of coal to Bangladesh with one vessel carrying 54,700 t in Jun ’20.
Steel Coils: Bulk imports of steel coils to Bangladesh witnessed an increase by 15% to 123,492 t in Jun ’20 in comparison to 108,045 t imported in May ’20. Japan and Taiwan exported two bulk scrap cargoes each, carrying 55,189 t and 30,365 t respectively in Jun ’20. Other major suppliers such as Korea supplied 22,733 t and China 15,205 t of one bulk scrap cargo vessel each.
Bulk imports of Pig Iron and HBI to Bangladesh reported nil volume in Jun ’20.
Quantity in t
Source: SteelMint vessel line up data
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