South Asia’s imported scrap buyers remained pessimistic towards booking any cargo. The buyers’ side is waiting for prices to go down further, sources informed. Major mills in Bangladesh opted for production cuts while mini mills are finding it tough to maintain the production level amid heavy rains and LC restrictions by the government.
Price assessment
- UK-origin shredded scrap prices were at $440-445/t CFR Qasim, falling by $5-10/t against yesterday.
- Europe-origin shredded scrap offers in India stood at $455/t CFR Nhava Sheva, stable d-o-d.
- UK-origin shredded scrap prices were at $475-480/t CFR Chittagong, unchanged d-o-d.
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