South Asia’s imported scrap market remained volatile as buyers were reluctant to book any material and uncertainty continued post-the Turkish deal which concluded at higher rates.
In contrast, to meet prompt requirements, some buyers booked scrap mainly in Pakistan and Bangladesh. On the other hand, Indian buyers held their bookings as one scrap vessel was heard to be arriving at Kandla Port.
Recent deals
- A deal for around 1,000 t of shredded scrap was concluded at $470/t, CFR Chittagong.
- A total of 2,000 t of shredded scrap was traded at $442-445/t, CFR Qasim basis.
Price assessment
- Europe-origin shredded scrap offers in India stood at $450/t CFR Nhava Sheva, unchanged from yesterday.
- UK-origin shredded scrap prices were at $470/t CFR Chittagong, down by $3/t d-o-d.
- UK-origin shredded scrap prices were at $440-445/t CFR Qasim.
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