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Lack of container hikes Bangladesh's imported scrap prices

24 Nov 2020 15:52 reported by Jamie Yen

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According to sources, due to the tight supply of containers and the shortage of scrap production in some export countries, Bangladesh's imported scrap prices continued to rise.

Some market participants mentioned that the steel prices in Bangladesh were actually stable as the supply was enough for the market. However, the steel mills still had to purchase the higher price of scrap just to maintain the operation.

In fact, the scrap suppliers would transfer the increasing ship cost to buyers with higher quotations. However, some sellers would rather postpone the delivery date to January or even later to wait for the container's supply at a fair price level.

Some market participants said that for buyers, the sharp increasing rate of container would make them switch to ship via bulk, no container needed for saving cost.

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