Bangladeshi steelmakers have largely opted to stay away from buying in the scrap import market this week in the hope that prices will continue to fall, sources told Fastmarkets on Thursday November 11.
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Bangladesh
There was a lack of import activity in steel scrap to Bangladesh this week despite the country's domestic market hitting a fresh record high over the past seven days.
Domestic shipbreaking scrap prices were heard at 54,000-55,500 take ($619-636) per tonne ex yard this week, up from 53,500-54,700 taka per tonne last week.
"Demand for shipbreaking scrap and local HMS went up since imports to mills in the capital...