- India’s scrap market remains slow on weak demand, floods, Eid
- Imported scrap demand in Pakistan limited on high inventories
South Asia’s imported scrap markets remained subdued this week, with weak steel demand, high inventories, and holiday disruptions in India keeping prices under pressure across India, Pakistan, and Bangladesh.
India: Indian imported scrap prices remained mostly steady this week, with HMS 80:20 UK offered at $330-335/t CFR, while buyers’ bids were lower by around $325/t. Shredded scrap from the UK traded at $365/t, though suppliers generally held offers at $370-375/t, and turnings from the UK/Philippines were assessed at $330-335/t.
Market sentiment remained cautious amid weak steel demand and floods in Ludhiana, keeping restocking limited, with firmer buying expected only closer to winter.
Pakistan: Imported scrap market stayed pressured this week as weak finished steel demand and high inventories weighed on buying. Flood disruptions and the Eid holiday further limited activity, with buyers seeking around $370-375/t.
Bangladesh: Imported scrap market remained under pressure this week, impacted by political uncertainty and tight dollar availability. UK-origin shredded was offered at $375/t, bids near $360/t, PNS at $365/t. Australian shredded cargoes saw offers at $380/t CFR Chattogram, with trades around $364–370/t as local mills stayed cautious amid subdued buying.
Turkiye: Deep-sea scrap prices held mostly steady d-o-d, with limited demand amid subdued consumption of finished steel keeping the market quiet. US/Baltic-origin HMS 80:20 was reported at $340-345/t CFR, while EU-origin HMS 80:20 traded at $332-334/t CFR.
Market sentiment remained weak as high US-to-Turkiye freight costs and softening rebar prices pressured import scrap demand, leaving participants cautious about near-term market direction.
Price assessments
India: UK-origin shredded prices emains stable d-o-d to $364/t CFR Nhava Sheva.
Pakistan: UK-origin shredded indicatives prices remains stable d-o-d to $372/t CFR Qasim.
Bangladesh: UK-origin shredded prices remained stable d-o-d at $374/t CFR Chattogram.
Turkiye: US-origin HMS (80:20) bulk scrap prices remains stable d-o-d to $343/t CFR Turkiye.
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