South Asia’s imported scrap buying remained limited due to bearish market trends. India’s containerised market remained silent but one bulk deal was heard for UK-origin material. Pakistan and Bangladesh markets were muted due to high power tariffs, gas shotages, LC restrictions and low demand from end-users.
Recent bookings
- A deal for 2,000 t of shredded scrap of UK-origin was concluded at $449/t, CFR Qasim.
- In another bulk deal, a total of 44,000 t of mixed scrap material was booked from the UK. Out of this, 15,000 t of busheling scrap traded at $450/t, 6,500 t of blue steel at $435/t, 8,000 t of bonus at $425/t and 14,500 t of shredded at $425/t, CFR Chennai.
SteelMint’s price assessment
- The UK-origin shredded scrap prices are at $450/t CFR Qasim.
- Europe-origin shredded scrap offers to India are at $445-450/t CFR Nhava Sheva.
- The UK-origin shredded prices are unchanged at $475-480/t CFR Chittagong.
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