South Asia: Imported ferrous scrap market remains dull, prices fall to 20-month lows

After a recent Turkiye deal was concluded at lower rates from Europe, the overall South Asian imported scrap market has become slow. Market participants are expecting a further fall in prices in the near term. South Asian imported scrap prices are hovering at almost 20-month lows since February 2021.

SteelMint’s price assessment

• Europe-origin shredded scrap offers into India were at $420/t CFR Nhava Sheva.
• UK-origin shredded scrap prices were at $420/t CFR Qasim.
• UK-origin shredded prices were unchanged at $450/t CFR Chittagong.