- Indian market weak, no bulk offers heard
- Turkish market stable amid thin trade activity
South Asia’s imported scrap markets remained sluggish amid weak steel demand and payment hurdles, while Turkiye’s deepsea scrap trade held stable, with only selective buying and limited finished steel activity observed.
India: India’s imported scrap market remained weak with no bulk offers heard, as poor domestic finished steel prices and low demand kept bulk cargoes unworkable. Containerized shredded was at $360/t CFR, while UK HMS 80:20 offers stood at $330-335/t CFR.
Pakistan: The imported scrap market saw limited activity with offers ranging across origins. German busheling was heard at $390-395/t CFR Qasim, while UAE HMS-PNS mix was quoted at $370-375/t. UK shredded offers varied between $378-384/t depending on yard, and Polish HMS and shredded cargoes were heard in the $360-383/t range CFR Qasim.
Bangladesh: The imported scrap market remained muted with only selective buyers active. Rebar prices stood at BDT 77,000-78,000/t in Dhaka and BDT 82,000-83,000/t in Chattogram, where overall sentiment was weak and trading activity remained limited across the sector.
Recent deals included HMS mix PNS from UAE at $357/t CFR Chattogram and H-beam oversize material from Hong Kong at $410/t CFR, though broader trading stayed constrained by payment issues.
Turkiye: Turkish deepsea scrap import market stayed quiet d-o-d, with HMS 80:20 holding at $346-347/t CFR. EU-origin cargoes faced mild downward pressure, but prices for premium material were largely steady amid thin trading activity during the late-summer lull.
As per market insiders, finished steel offers stood at $510-515/t CFR Turkiye, while a major steelmaker stayed absent, negotiating with European suppliers.
Price assessments
India: UK-origin shredded indicatives remained stable d-o-d at $365/t CFR Nhava Sheva.
Pakistan: UK-origin shredded indicative prices remain stable at $379/t CFR Qasim compared to previous day.
Bangladesh: UK-origin shredded prices remain stable d-o-d to $374/t CFR Chattogram.
Turkiye: US-origin HMS (80:20) bulk scrap prices were stable d-o-d at $347/t CFR Turkiye.
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