South Asia’s imported scrap market remained silent with very limited transactions heard. Market participants were cautious and are waiting for clear directions after the recently-concluded Turkiye deal at lower rates. In Bangladesh, container bookings are not feasible as prices are still high as compared to bulk.
In Pakistan, due to heavy rains and inventory pile-up, buyers are holding further bookings since the last couple of days. Indian buyers are also waiting for bulk shipments. However, deals in small quantities continued to happen.
Recent deals
- Around 8,500 t of HMS scrap of Singapore-origin was traded at $455/t, CFR Chattogram.
Price assessment
- UK-origin shredded scrap prices were at $474/t CFR Qasim, largely stable against yesterday.
- Shredded scrap prices were at $500/t CFR Chittagong, unchanged d-o-d.
- Europe-origin shredded scrap offers in India stood at $470-475/t CFR Nhava Sheva, down $2/t d-o-d.
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