Bangladesh bulk scrap buying halted by bloated stocks, higher Japan export scrap prices

Bulk scrap purchasing in the Bangladesh import market is under pressure, largely due to inflated inventories of material and high offer prices, market sources told Fastmarkets on January 10.

"In the past three to four months, when nobody else in the Indian subcontinent was buying much, Bangladesh bought. But now, after this purchasing, everyone has high stocks on hand," one mill source in the country said.
"December had the highest number of bulk vessels carrying scrap arriving in Bangladesh ever," one South Asian trader source told Fastmarkets. "So mills are covered for material now, but will have to come back soon - they are waiting for the right time."

Current bulk scrap prices are also a key deterrent for consumers,...

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