BANGLADESH STEEL SCRAP: Sellers attempt to resist further price cuts

July 04, 2020 / www.metalbulletin.com / Article Link

Prices for steel scrap imported to Bangladesh moved down again over the past week, but sellers will resist any further price drops, market sources told Fastmarkets.

At least one bulk cargo was booked from the US West Coast to Bangladesh over the past fortnight, with another sale said to be possible if sellers accept lower prices, sources told Fastmarkets.

Reduced prices have been heard in the bulk import market for deep sea-origin scrap to Bangladesh in recent weeks due to a drop in bulk buying prices in Turkey and lower demand for finished steel in Bangladesh amid the country's ongoing battle with the Covid-19 pandemic.
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