South Asia: Imported scrap buyers postpone fresh bookings

The South Asian import scrap market remained largely unchanged today (on a d-o-d basis) as buyers remained silent. Due to ongoing political instability and sharp currency devaluation in Pakistan, buyers remained on the sidelines. Meanwhile, containerised imported scrap buyers postponed fresh bookings due to lack of supportive market sentiments.

• Around 1,000 t shredded scrap of Europe-origin was traded at $456/t CFR Qasim. SteelMint’s assessment of UK-origin shredded scrap stands at $455-460/t CFR Qasim, unchanged d-o-d.
• SteelMint’s assessment of UK-origin shredded scrap stands at $480/t CFR Chittagong, stable against yesterday’s price.
• Shredded scrap prices into India stood at $460-465/t CFR Nhava Sheva.