Demand for import cargoes of steel scrap to Bangladesh has dropped in the last week amid a plummeting taka-US dollar exchange rate increasing costs to import material, market sources said on Thursday May 26.
A major South Korean steelmaker has attracted significant interest from Japanese sellers with its latest bids for steel scrap material, despite these being lower than bids from the same country last week, sources said on Friday May 27.
Asian steel scrap prices continued to slide in the week to Friday May 6 amid persistently bearish sentiment, weak demand and the absence of buyers, who were waiting for prices to fall further before looking to purchase again.
World's leading cash buyer of ships for recycling GMS said that “With holidays descending across the Indian sub-continent for Ramadan & Eid celebrations and
Logistics disruptions caused by the Covid-19 situation in China led to tight domestic supply of steel scrap in the country, raising buyers’ expectations for import prices, market sources told Fastmarkets on Tuesday March 29. But import trading activity remained thin amid a persistent buy-sell gap.