Bangladeshi ferrous scrap buyers are opting to purchase smaller quantities of containerized materials instead of bulk shipments to hedge against the sudden price increases in scrap markets in the week to Thursday November 26, sources told Fastmarkets.
Finished steel product prices have not been able to absorb the sudden hikes in raw materials prices, and Bangladeshi steel mills have not been interested in booking scrap cargoes at the current market prices, a scrap trader in Southeast Asia said.Major scrapyards had indicated...