New transactions concluded for containerized steel scrap cargoes sold to Bangladesh fetched lower prices over the past week, sources told Fastmarkets.
Buyers in Bangladesh, Pakistan and India have been successful in the past week in their attempts to reduce import prices for containerized scrap.
“Asian mills appear to be winning in this round of buying,” a trading source in the United States said.
At least two Bangladeshi steelmakers booked imported shredded scrap in containers at $480 per tonne cfr for United Kingdom material at the beginning of this week. A deal in the middle of the week involving 3,000-4,000 tonnes of shredded scrap was heard at $476 per tonne cfr.