Lack of demand for finished and semis products kept the South Asian scrap market under pressure. Pakistani and Bangladeshi buyers are facing liquidity crises. Buyers opted for a wait-and-watch approach, which led to limited trading in the market throughout the day, SteelMint learned from sources.
Price assessment
- Europe-origin shredded scrap offers in India stood at $450/t CFR Nhava Sheva, unchanged against yesterday.
- UK-origin shredded scrap prices were at $470-475/t CFR Chittagong, stable compared d-o-d.
- UK-origin shredded scrap prices were at $440-445/t CFR Qasim.
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