• Easing bulk freight costs reduce Bangladesh deep-sea bulk scrap prices
• China import demand muted after steel mills lower scrap purchase prices
• Taiwan secures containerized scrap at lower prices.
Bangladeshi steel scrap buyers have shown less interest in booking material in recent days following the market’s sharp rise last week.
“The Turkish market is slowing down, and sellers who were planning to raise their prices have started to soften them a bit. We buyers want to sit and watch the market now,” a Bangladeshi steelmaker source told Fastmarkets.
He added that the exporting of billets which had already arrived at Chinese ports led him to believe that prices would fall further.
“The fact is that people here are not going to choose to buy at a high price now. The rainy season is not over, and has gone on...