No transactions for bulk cargoes were heard during the week but containerized scrap from Australia and Brazil changed hands at lower prices than previous weeks.
“There are mostly container sales of both shredded and [heavy melting scrap] from Brazil at the moment but not much else. Quantities are very low due to lower collection [rates] in Brazil,” a South Asian trader said.
"I think a lot of people in the market are over-optimistic. The overall impact [of Covid-19] is only just starting. I would say that now, the plane is crashing but the impact is not yet there,” he added.
A Bangladeshi mill source told Fastmarkets that he was unlikely...