South Asia’s imported scrap market saw a flat response from buyers today. Participants were not interested in the prices because of bid-offer disparities.
Moreover, imported scrap prices have gone up after the recent US-origin deal for Turkiye was heard to have concluded. This could help in deriving a correct price trend in the next few days for South Asian scrap buyers.
“The market is still showing mixed sentiments, but we are getting better response from our customers in the local market. So I think demand is slowly improving,” said an Indian scrap seller.
“Some of the offers are high but some are at lower levels too,” a Pakistani buyer informed.
Today’s deal
A deal, comprising of a decent quantity, was heard to have been concluded for shredded in containers at $415/t CFR Qasim recently.
A US-origin cargo of HMS (80:20) has been booked by an Aegean region mill at $360/t CFR Turkiye.
SteelMint’s price assessment
- Europe-origin shredded scrap offers into India were at $415/t CFR Nhava Sheva.
- UK-origin shredded prices stood at $441/t CFR Chittagong, unchanged.
- UK-origin shredded scrap prices were at $420/t CFR Qasim, up by $4/t from the last offer prices.
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