27
Sep
15:40
Bangladesh faces severe financing issues, scrap trade lull
Prevailing financing issues have become severe in Bangladesh, thus impacting scrap trade in the nation. A majority of mills still have letters of credit pending for July and August; hence, sellers are sceptical about offering new cargoes.
There are cargoes due to touch Bangladeshi shores in under a week’s time, but the LCs for those cargoes are yet to be processed, sources tell Kallanish.
“Many mills are postponing their purchases and directing their …
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Anonymous
Very good overview of the weekly steel market.
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