The volatility in the imported scrap market resulted in mixed sentiments prevailing among South Asian buyers. Limited finished steel demand, volatility in currency exchange rates and the increase in inventory levels dragged offers down on d-o-d basis. However, to meet their immediate requirements mills are booking in limited quantities.
Recent deals
- Around 500 t of shredded scrap in containers of Europe-origin was traded at $490/t CFR Qasim.
- Around 1,500 t of shredded scrap in containers of UK/Europe-origin was traded at $480-485/t CFR Nhava Sheva.
Price assessment
- UK-origin shredded scrap prices are at $485-490/t CFR Qasim, down $5/t compared to yesterday.
- Shredded scrap prices are at $510/t CFR Chittagong, unchanged d-o-d.
- Europe-origin shredded scrap offers in India stand at $485-490/t CFR Nhava Sheva, down $5/t d-o-d.
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