South Asia’s imported scrap market remains bearish amid higher offers following global cues. However, limited trade volumes were heard only for Pakistan at offers higher by $15-20/t, said market sources.
“Bangladesh’s ferrous scrap market is silent. Buyers are not active due to the LC opening restrictions,” said a source in Bangladesh.
The Indian market was not quite active today on account of bid-offer disparities.
“At the end of every month and the start of next, every mill is required to pay all of its bills. Facing a funds crunch, mills offered discounts on finished steel to attract buyers and improve their liquidity situation,” a Bangladeshi steelmaker informed SteelMint.
Recent trade
- Around 2,000 t of Europe-origin shredded scrap has been booked at the $425-430/t price range CFR Qasim.
SteelMint’s price assessment
- Europe-origin shredded scrap offers into India were at $430-435/t CFR Nhava Sheva, up by $7/t d-o-d.
- UK-origin shredded prices stood at $440/t CFR Chittagong, stable d-o-d.
- UK-origin shredded scrap prices were at $430-435/t CFR Qasim, up by $3/t d-o-d.
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