BANGLADESH SCRAP: Buying expected to pick up in coming weeks, sources say

Bangladeshi steel mills are expected to return to the deep-sea market for steel scrap in bulk and containers in the coming weeks, market sources told Fastmarkets on Thursday May 28.

Purchasing activity in Bangladesh has been extremely slow over the past three weeks, with demand decimated by the Ramadan period and the country’s continuing Covid-19 lockdown.
But signs of life are returning after Eid-al-Fitr celebrations earlier this week and with the country’s lockdown set to end on Saturday after the authorities decided against an extension.
“We need to wait, the lockdown ends on May 30 and [then there should be] a bit more buying in Bangladesh,” a mill source in the country told Fastmarkets.

“In one-to-two weeks, I think Bangladesh will be back for a few bulk vessels, but mills...

Published

Lee Allen

May 28, 2020

15:48 GMT

Singapore