South Asia: Imported scrap market gets active as offers drop further

South Asia’s imported scrap market actively booked fresh material after offers declined further. Notably, Bangladesh has also booked small quantities as per their requirement after a gap of almost two weeks.

• Around 2,000 t of UK-origin shredded have been booked at $510/t CFR Pakistan. Fresh offers for the same are at around $510-515/t CFR Qasim levels, down by $3/t d-o-d.
• About 1,000 t of UK-origin shredded is being booked by a Dhaka-based mill. SteelMint’s assessment for UK-origin shredded stand at $530-535/t CFR, Bangladesh, unchanged against yesterday.
• Around 500 t of HMS (80:20) of West-Africa-origin are being traded at $445/t CFR, Mundra. SteelMint’s India assessment for HMS-1 scrap from Dubai-origin is at $470/t CFR, Nhava Sheva, a significant fall of $20/t CFR levels d-o-d.