- Turkiye deepsea prices stable, buying interest muted
- India scrap imports sluggish, wide bid-offer gap persists
South Asia’s imported scrap markets stayed largely subdued, with limited trades, weak demand, and sufficient domestic availability keeping prices stable, while Turkiye’s deepsea market also held steady amid muted buying interest.
India: India’s imported ferrous scrap market stayed moderate, with buyers cautiously observing as sufficient domestic availability and weak demand kept imports limited. Shredded scrap offers hovered at $365/t CFR, with bids around $360/t, reflecting the wide bid-offer gap.
Other market offers included LMS bundles at $300/t, Brazilian HMS at $340/t, shredded at $365-370/t (buyers $355-360/t), busheling $355-360/t, and PNS $370-375/t (bids $350-355/t). Some expect potential improvement from November, though sentiment remains cautious with no clear recovery signals.
Pakistan: Imported scrap prices remained slow, with workable levels easing to around $363-365/t CFR from $368/t earlier. UK shredded offers were heard at EUR 225-227/t, with freight costs still high at $1,600-1,700/t including surcharges. Market indications HMS UAE at $360-365/t, while shredded scrap from UAE was reported at $385/t CFR.
Bangladesh: The imported scrap market in South Asia remained stable d-o-d, with limited trading amid subdued demand. Australian shredded was assessed at $360/t CFR, HMS 80:20 at $338/t. UK and EU shredded were offered at $375-378/t CFR, with buyers interested around $366-370/t. Malaysian PNS and shredded were indicated at $370/t and $358/t.
Turkiye: Turkiye’s imported deepsea scrap market remained steady d-o-d, with US/Baltic-origin HMS 80:20 at $330-335/t CFR and EU-origin at $325-327/t CFR. Weak finished steel demand kept activity muted, limiting buying interest.
Prices are stabilizing at current lows, but sellers face pressure from softening European collection rates. American and Canadian suppliers are holding offers steady despite overall subdued market conditions.
Price assessments
India: UK-origin shredded prices edge down by $1/t at $360/t CFR Nhava Sheva compared to last day.
Pakistan: UK-origin shredded indicatives prices fell by $2/t d-o-d at $366/t CFR Qasim.
Bangladesh: UK-origin shredded prices rise by $1/t d-o-d to $373/t CFR Chattogram.
Turkiye: US-origin HMS 80:20 bulk scrap prices at $335/t CFR Turkiye, stable d-o-d.
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