The imported containerised South Asian scrap market remained sluggish in the beginning of the week. Bangladeshi mills paid their due bills towards last month end, which ultimately pushed finished steel sales at lower rates. Pakistan’s market is still recovering from the heavy flood that has caused subdued demand; however, imported scrap offers remain high.
India’s demand for containers turned silent after the arrival of bulk vessels, and buyers are booking material due to cost competitiveness.
SteelMint’s price assessment
- UK-origin shredded scrap prices were at $450-455/t CFR Qasim, stable against last week’s closing.
- UK-origin shredded prices were at $470/t CFR Chittagong, a fall of $3/t compared to last week end.
- Europe-origin shredded scrap offers in India stood at $450-455/t CFR Nhava Sheva.
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