South Asia: Imported scrap prices continue to move upward even amid limited trades

South Asia’s imported scrap prices continued to move north, following deals in Turkiye. The Bangladeshi market turned silent, however, as market participants expect some improvement in October. Only a few bookings were recorded in Pakistan due to the slight upsurge in prices. Meanwhile, it was heard that one bulk cargo would be delivered to India’s Kandla port next week.

SteelMint’s price assessment

• UK-origin shredded scrap prices were at $450-455/t CFR Qasim, up by $3/t d-o-d.
• UK-origin HMS (80:20) prices were at $450-455/t CFR Chittagong, increased by $3/t d-o-d.
• Europe-origin shredded scrap offers in India stood at $450-455/t CFR Nhava Sheva, up by $3/t d-o-d.