Imported scrap market in Bangladesh remained stable again in this week. Most of the market participants remained in waiting mode and kept seeking for market to gain demand for finished products. The domestic market for finished goods yet to pick up as expected in Bangladesh.
Offers for imported scrap almost remained firm with slight upward movement on W-o-W basis. However, fresh bookings remained subdued.
Price assessment for Shredded scrap in containers stood at USD 330-335/MT, CFR Chittagong. These offers are slightly up than last week assessment which was around USD 325-330/MT, CFR level.
HMS 1&2 (80:20) from Dubai origin offered at USD 308-315/MT while HMS 1 from other major origins like Australia and New Zealand assessed at USD 315-325/MT, CFR Port Chittagong.
“Sentiments are almost stable in an imported scrap market in Bangladesh. Most of the importers and traders are in ‘Wait and Watch’ mode. Small party suppliers from Australia and New Zealand were little active in market and kept offering the materials however for other sources, freight charges have gone up substantially which lead the market to keep soft and very few deals were reported this week.” A market participant Shared with SteelMint.
Though very less changes are noticed in offers in Bangladesh, Scrap importers remained away from booking fresh bulk vessels again this week. Whereas thin trade deals for containerized scrap took placed as offers heard were very less in numbers. – a source shared from Bangladesh.
Bulk scrap imports to Bangladesh increase 16% in Oct’17 –
Bulk scrap imports have increased in Oct’17 in Bangladesh. As per vessel line up data maintained with SteelMint, Bangladesh imported 123,420 MT ferrous scrap in Oct’17 against 106,520 MT in Sep’17.
Total five cargoes have arrived at berth in Oct’17 out of which three cargoes sourced from USA carrying 88,920 MT(72%) and remaining two from Japan carrying 34,500 MT (28%) respectively.
According to port data, around 9 vessels carrying 233,760 MT ferrous scrap are still waiting to be discharged. Bangladesh ports are experiencing heavy congestion over rising demand for scrap and coal in the country.
Bulk scrap import vessels that arrived at berth in Oct’17 in Bangladesh –
| Vessel Name | Country | Load Port | Quantity In MT | Date | Status |
| Atlanta | USA | Barbers Point | 25,070 | 05-Oct’17 | Berth |
| La Bamba | USA | Los Angeles | 32,000 | 11-Oct’17 | Berth |
| Intrepid Joanne | Japan | Nishi | 25,000 | 17-Oct’17 | Berth |
| Harmony SW | Japan | Kinnura | 9,500 | 17-Oct’17 | Berth |
| New Inspiration | USA | San Francisco | 31,850 | 25-Oct’17 | Berth |
Source : Vessel Line Up Data & SteelMint Stats
Leave a Reply