BANGLADESH SCRAP: Import bookings continue despite lockdown

Steelmakers in Bangladesh continued to book ferrous scrap imports over the week ended Thursday April 2 despite the country’s nationwide lockdown, which has forced some mills to reduce output, market sources have told Fastmarkets.

Prices fell sharply last week, with some traders expecting that Bangladesh’s mills had completed their scrap bookings for the next month, because of high stock levels and the imposition of a country-wide lockdown intended to control the spread of the Covid-19 pandemic.
But prices were supported over the week by a resumption of scrap buying.

One Bangladesh mill booked a US West Coast bulk cargo on March 30 at prices of $245 per tonne cfr Chittagong for HMS 1&2 (80:20) and $250 per tonne cfr for shredded scrap, market participants told Fastmarkets. That deal compared with...

Published

Lee Allen

April 02, 2020

12:22 GMT

Singapore