BANGLADESH STEEL SCRAP: Markets surge amid growing buy-side desperation

A growing desperation for steel scrap imports at Bangladeshi steel mills has led to a sellers’ market for bulk and container cargoes, boosting prices sharply, sources told Fastmarkets.

A combination of the rising Turkish import price, a growing bullishness from US suppliers about likely price increases in their local market for both November and December and a lack of recent bookings into Bangladesh were all supporting factors to the price rise, sources said.
“December is usually a strong month for scrap prices; the market is going up sharply and it will go up to an even higher level before it stabilizes,” a Bangladeshi steelmaker source said.

“Bangladesh has no choice but to buy bulk cargoes at high prices now; the big mills are not getting...

Published

Lee Allen

October 22, 2021

09:39 GMT

London