BANGLADESH SCRAP: Market broadly stable with buyers, sellers in standoff

Prices for deep-sea bulk cargoes of ferrous scrap in Bangladesh have stayed largely flat over the past week amid a continued standoff between mills and suppliers, sources said on Thursday April 23.

More stability in the Turkish import scrap market, a plunge in the price of crude oil and the continuation of Covid-19 pandemic lockdown restrictions in Bangladesh were three reasons highlighted by market sources for the new stalemate in the local market.
“The market has become very slow. The lockdown in Bangladesh will continue until May 5, and everything is closed,” one mill source in the country said.

Trade in both ferrous scrap and direct-reduced iron (DRI) in Bangladesh has been curtailed since the country entered lockdown on March 24, due to...

Published

Lee Allen

April 23, 2020

13:15 GMT

Singapore