Bangladesh Mills Turn Active for HRC Import Bookings; Deals Reported

In recent conversation with trade participants based in Bangladesh, SteelMint learned that Bangladesh based mills have recently booked imported HRC from China and Taiwan. Also few mills are in discussions for booking Japanese HRC.

Currently imported HRC (2mm) offers to Bangladesh are hovering in range of USD 535-540/MT CFR Chittagong for Aug-Sep shipments.

Also as per information received, major steel importer based in Bangladesh has booked around 10,000 MT HRC from Chinese major steelmaker Baosteel at around USD 535-540/MT CFR Chittagong for Aug-Sep shipments. The deal was concluded last week.

Also another major importer booked few quantities with Taiwan based CSC (China Steel Corporation) at USD 530/MT CFR basis for Aug-Sep shipments.

Few trade participants are eyeing for imported HRC levels around USD 520/MT CFR following anticipation in further decline in HRC export offers from China.

Imported HRC offers to Bangladesh from Japan- Major Japanese steel companies are offering imported HRC to Bangladesh at around USD 555-560/MT CFR Chittagong for Aug -Sep shipments. However no major bookings have been heard yet.

Imported HRC Offers to Bangladesh from India- Indian major steelmaker, is offering imported HRC (2mm) to Bangladesh at around USD 540/MT CFR basis for Aug Sep shipments. However no major deals have been conclude yet from India.

Bangladesh bulk vessel HRC import expected to be around 1,04,926 MT in Jul'19- As per provisional data maintained with SteelMint, Bangladesh bulk vessel imports in Jul'19 is expected to be around 1,04,926 MT against 1,09,420 MT in Jun'19. Majorly HRC imports to Bangladesh observed in Jul'19 was from Korea, Japan and Taiwan.