The scrap import market in South Asia remained mostly quiet and imported scrap prices are stable. Only Indian buyers were active in the market, with limited deals recorded toward last weekend.
Buyers in Pakistan and Bangladesh are facing difficulty with LC opening. Major Pakistan-based mills have pleaded to the government for support and have kept rebar prices high due to increased input costs.
Around 1,250 t of containerised shredded scrap of UK origin was booked at $449-450/t CFR Mundra.
SteelMint’s price assessment
- Europe-origin shredded scrap offers into India are at $455/t CFR Nhava Sheva, down $5/t.
- UK-origin shredded scrap prices stand at $470/t CFR Chittagong, stable d-o-d.
- UK-origin shredded scrap prices are at $460/t CFR Qasim, unchanged d-o-d.
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