According to customs data maintained with SteelMint, vessel named ‘Honor Pescadores’ carrying 10,000 MT scrap from Japan is likely to arrive at Bangaldesh port on 30 Jun’17.
Prior this month, another vessel ‘Gao Qiang’ carrying 37,560 MT scrap of South African origin arrived at berth in Bangladesh port on 25 Jun’17.
Last week, SteelMint reported that Bangladesh based steel makers were actively looking to source bulk scrap cargoes owing to low inventory levels and around 4-5 bulk cargoes have been sold in June.
According to data maintained by SteelMint, Bangladesh imported 0.38 MnT ferrous scrap during Jan-Apr’17 against 0.19 MnT in the same period last year.
Scrap imports to Bangladesh to increase further –
Recently Bangladesh government in its federal budget has changed the duty structure on imports of scrap, sponge iron, pig iron and ingots. According to which imports of scrap is a viable option as compared to sponge iron and billets. Bangladesh based buyers are expected to increase their scrap imports in coming time.
Bangladesh has an installed steel capacity of around 3.5 MnT, which is expected to increase to 5 MnT in coming years.
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