The new Covid-19-related lockdown restrictions in Bangladesh, which have been recently declared by the country's government, have aggravated the already unfavorable conditions for scrap trading.
Specifically, under the scope of new lockdown, the authorities of Bangladesh have ordered the domestic steel mills to stop their production at least for two weeks, effective from July 23. “All production facilities are shut down until August 2, with the retail activities having been already halted earlier. Hence the market here is temporarily dead,” a Bangladesh-based trader commented. With regard to the recent developments, no new scrap offers to Bangladesh have been heard lately.