South Asia: Imported scrap market sluggish, awaits fresh booking from Turkiye

South Asia’s ferrous scrap buyers, especially Pakistan and Bangladesh, have slowed down their bookings as they wait for the next round of purchase from Turkiye for clear market directions. Meanwhile, Indian market remained sluggish as buyers were less active due to festive season. Imported scrap offers have come down in absence of buyers.

SteelMint’s price assessment

• UK-origin shredded scrap prices stand at $500/t CFR Qasim, down by $2/t d-o-d.
• Shredded scrap prices are at $525/t CFR Chittagong, unchanged d-o-d.
• Europe-origin shredded scrap offers in India stand at $500/t CFR Nhava Sheva, down by $5-10/t d-o-d.