- Bangladesh’s domestic steel prices show signs of recovery
- Turkiye’s deep-sea scrap prices stay flat amid weak demand
South Asia’s imported scrap markets remained subdued, with weak steel demand, high inventories, and holiday disruptions curbing activity, while domestic price movements in Bangladesh signalled mild recovery. Parallelly, market participants in Turkiye were also cautious amid weak finished steel demand.
India: India’s scrap market reflected mixed trends. In Chennai, participants described sentiment as upbeat, with workable levels at shredded $355-360/t, indicating a positive local mood.
On the import side, prices remained largely steady, with UK-origin HMS 80:20 offered at $330-335/t CFR, while bids stayed lower, near $325/t. Weak steel demand and flood disruptions in Ludhiana kept restocking activity limited.
Pakistan: The imported scrap market saw muted activity this week, as mills stayed cautious amid weak finished steel demand and high stock levels. Flood disruptions and the Eid holiday further dampened buying, with bids clustered at around $370-375/t.
Bangladesh: Imported scrap offers in Bangladesh remained elevated, with Australian shredded at $372-375/t CFR against bids of $365-366/t, while HMS 90:10 stood at $355/t versus bids of $345-346/t. Buyers largely stayed inactive after September bookings.
In the domestic market, mills tried to raise rebar sales, but trade levels held lower at BDT 80,000-81,000/t versus offers of BDT 82,000-83,000/t. Dhaka’s finished steel prices rose BDT 500-1,000/t, while billets gained by about BDT 1,500/t, indicating mild recovery.
Turkiye: Deep-sea scrap prices stayed flat d-o-d, with US/Baltic-origin HMS 80:20 assessed at $340-344/t CFR. Trading stayed thin as mills prioritised October shipment cargoes over fresh bookings.
Market sentiment was cautious, as weak finished steel demand curbed buying appetite, while rising freight costs added pressure, limiting room for higher scrap prices despite steady tradable levels.
Price assessments
India: UK-origin shredded prices remained stable at $364/t CFR Nhava Sheva compared to the last closing day (Friday).
Pakistan: UK-origin shredded indicatives prices remained flat at $372/t CFR Qasim compared to Friday.
Bangladesh: UK-origin shredded prices edged up by $1/t compared to Friday at $375/t CFR Chattogram.
Turkiye: US-origin HMS (80:20) bulk scrap prices stood firm at $343/t CFR Turkiye compared to the last closing day (Friday).
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