South Asia: Imported ferrous scrap market largely stable

The imported ferrous scrap market in South Asia continued to be under pressure due to currency fluctuation. Buyers turned cautious about booking any fresh deals and are waiting for clear market directions.

• Pakistan’s imported shredded scrap prices of UK-origin are assessed at $530/t, CFR Pakistan, unchanged d-o-d. 2,700 t deals were concluded for Europe-origin shredded at $520-525/t CFR Qasim basis.
• India imported and domestic ferrous scrap prices remained largely stable amid volatility in the market.
• Bangladesh’s imported scrap prices remained rangebound with no major transaction.