09
Mar
15:44
Financing delays continue to plague Bangladesh scrap imports
Low foreign exchange reserves in Bangladesh are still delaying the processing of letters of credit, thus impacting imported steelmaking raw material availability. Despite high offers from sellers, therefore, Bangladeshi mills are in the market for scrap but cannot complete its procurement, Kallanish notes.
“Only two or three big customers can open LCs quickly, but for the majority of steel mills, it is taking two to three weeks,” informs a trading sour…
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Anonymous
Very good overview of the weekly steel market.
Anonymous