Bangladesh Steel Mill Books Bulk Scrap Cargo from US

Bangladesh based steel mills have turned active for bulk scrap cargo bookings this week after observing a couple of weeks of mute trade activities. In a recent deal concluded, a Bangladesh based steel mill has booked USA origin shredded bulk cargo at USD 325/MT, CFR Chittagong. The cargo shipment is expected to be in Feb'20.

Prior to this in Nov'19 end, USA based recycling yard sold a bulk vessel with 32,000 MT mixed cargo, comprising of shredded scrap at USD 305/MT, CFR, HMS scrap at USD 300/MT, CFR and Bonus (P&S) at USD 310/MT CFR Chittagong.

According to bulk vessel line up data maintained with SteelMint, the country has imported 5,53,658 MT via bulk shipments during Jul-Oct'19. In the month of Oct'19, Bangladesh imported 138,346 MT bulk ferrous scrap out of which 58,000 MT was from the US. Other sources were Japan and the UK.