A backlog of containers of metal scrap stuck at ports across Australia has hammered the availability of steel scrap from the country and piled demurrage costs onto beleaguered traders, sources told Fastmarkets.
"Scrap supply in Asia is limited. Australia is having issues due to port congestion and carriers are imposing additional charges, which is raising prices," a Singaporean scrap trader said.Fastmarkets' price assessment for steel scrap, HMS 1&2 (80:20), containerized, import, cfr Bangladesh was $300-305 per tonne cfr on Thursday October 9, down by $1-5 per tonne from $305-306 per tonne cfr one...