The South Asian ferrous scrap market remained sluggish with few trades seen in recent days from Bangladesh and India. The Indian market witnessed a few deals from different origins but container quantity was nominal. Bangladesh was able to crack a few deals for Singapore-, Chile-, and Europe-origin materials at offers lower from the previous ones.
Turkish ferrous scrap prices have been fluctuating in recently-heard deals by $10-15/t compared to the last closing prices.
Pakistan remains out of the market due to its inconsistent financial condition amid funds approved by China recently which will have some impact after a few months from now.
Recent deals:
- Around 1,000 tonnes of containerised Europe-origin shredded has been booked at $480-485/t, CFR Chattogram.
- Around 1,000 t of containerised Chile-origin HMS has been booked at $460-465/t CFR, Chattogram.
- Around 1,000 t of containerised Singapore-origin PNS has been booked at $500/t CFR Chattogram.
Price assessments
- Europe-origin shredded scrap offers into India are at $465/t CFR Nhava Sheva, up by $5/t d-o-d.
- UK-origin shredded scrap prices are at $490/t CFR Chittagong, down by $5/t d-o-d.
- UK-origin shredded scrap prices are at $470/t CFR Qasim, also unchanged d-o-d.
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