The South Asian ferrous scrap market remained silent on unchanged Indian prices as compared to the last weekend. Bangladesh’s ferrous scrap market remained enquiry-based as some offers were heard at a higher level.
The Indian market remained silent as domestic finished steel and scrap market were in holiday mood with minimal transactions taking place d-o-d. Pakistan’s ferrous scrap market is still waiting for better trade flows. Market participants remained out of action with no deals today.
In contrast, Turkish deals resumed after a week, with two deals. An East Marmara-based steel mill bought HMS, shredded as well as bonus grade scrap recently on CFR Turkiye basis from the UK and France.
Price assessments
- Europe-origin shredded scrap offers into India were at $480/t CFR Nhava Sheva, unchanged d-o-d.
- UK-origin shredded scrap prices were at $505/t CFR Chattogram, inching up by $5/t d-o-d.
- UK-origin shredded scrap prices were at $495/t CFR Qasim, slightly up by $3/t d-o-d.
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