No deep-sea bulk imports have been booked into Bangladesh over the past week, while deals for material in containers were closed at lower prices than in the previous week.
“I think Bangladesh has completed this buying round of bulk cargoes, and mills will come back [to the market] in one month,” a South Asian trader source said.
“All mills have suddenly gone into a huddle, left the market, and expect prices to drop further,” he added.
“Container scrap offers have corrected but bulk offers are not a lot cheaper,” an exporter source said, citing a strong recent performance in the domestic steel scrap markets in the United States
and expectations that prices in October negotiations would again increase month on month.
Offers of scrap to Bangladesh from the US West Coast have dried up over the past week, with exporters in the region tending to focus more on containerized...