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27 Apr

Delayed financing dampens Bangladesh’s imported scrap market

Delays and restrictions in opening letters of credit have slowed intake of imported scrap in Bangladesh. There is a gap in offers and bids, and the outlook seems to remain bearish on the back of the extreme summer season and the fiscal year's end in June, sources tell Kallanish. Last week, an Australia-origin bulk cargo containing HMS and shredded was concluded at $442/tonne and $452/t cfr Chattogram, respectively. This week, offers for US west coast-origin HM…
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