After the recently concluded Turkish deal at lower levels, the South Asian imported scrap buyers opted to wait and watch the current market trend. India procured imported material due to domestic shortage of scrap. Mills also cut down production level. In contrast, Pakistan and Bangladesh remained inactive in buying material.
Recent trades
- Around 4,000 tonnes (t) shredded scrap of UK-origin were traded at $420/t, CFR Nhava Sheva.
- A total of 500 t HMS of West Africa origin deal was concluded at $385/t, CFR Nhava Sheva.
SteelMint’s price assessment
- Europe-origin shredded scrap offers into India were at $420/t CFR Nhava Sheva, a marginal fall of $3/t d-o-d.
- UK-origin shredded scrap prices were at $420/t CFR Qasim, down by $4/t compared to yesterday’s closing.
- UK-origin shredded prices were unchanged at $450/t CFR Chittagong.
.jpg)
Leave a Reply