Bulk ferrous scrap imports into Bangladesh, a major buyer in South Asia, decreased by 9% m-o-m in Nov'21. The country imported 0.21 million tonnes (mn t) of scrap in Nov'21 as against 0.23 mn t in Oct'21.
Imports from USA fall, rise from EU
- The US continued to be the largest scrap exporter to Bangladesh at 0.10 mn t in Nov'21 followed by the Netherlands and New Zealand at 0.04 mn t and 0.03 mn t respectively.
- Imports from USA plunged by 50% as against 0.20 mn t in the previous month. Limited bulk offers from the country resulted in lower bookings. High offers forced buyers to prefer material of other origins. For instance, Bangladesh-based mills actively booked EU-origin cargoes on price competitiveness. Notably, bulk imports from the Netherlands resumed after a gap of eight months in Nov'21.
- Imports from Japan were nil in Nov'21 against 7,500 t in Oct'21. On a m-o-m basis, Bangladesh buyers held back from importing Japanese scrap in November as suppliers were more inclined to cater to the domestic market due to strong demand and better prices alongside discrepancy in bids and offers in the exports market.
- Due to shortage of the material in other regions, bookings from the UK and the EU are likely to pick up. It is expected that Bangladesh's ferrous scrap import market may witness a rebound on winter restocking ahead of the peak season for construction.
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