- Pakistan remains quiet amid cash flow constraints
- Slowing collection, high freight costs weigh on trade
South Asia’s imported scrap markets remained subdued, with prices in India, Pakistan, and Bangladesh steady but under pressure due to limited trading activity. Overall, markets reflected buyer-driven sentiment amid cash flow constraints and freight cost pressures.
India: The Indian scrap market remained under pressure, with sentiment largely buyer-driven and limited activity in the deep-sea scrap segment. US-origin bulk HMS and shredded were traded at $350/t and $360/t CFR Kandla.
Among containerised offers, Yemen-origin HMS was at $320-322/t and UK-origin HMS at $318-325/t depending on impurities, while EU/UK shredded was at $354-355/t, PNS at $360-362/t, and German busheling at $368-370/t. Market liquidity favoured finished steel sellers, who have adopted low-operational approaches to cut costs and reduce spending.
Pakistan: The Pakistan scrap market remained largely quiet, reflecting a cash flow crunch, with imported shredded scrap assessed at around $360-362/t CFR Qasim. Mills are monitoring short-sea freights, expected to remain stable this week, while domestic scrap was traded at 136,000-138,000/t ($481-488/t).
Bangladesh: Imported scrap prices in Bangladesh were heard at $350-360/t CFR Chattogram for HMS 80:20 and 90:10 from Brazil and Chile. Domestic scrap was traded at BDT 45,000-48,000/t ($370-395/t), while rebar prices stood at BDT 77,000-78,000/t ($632-641/t) in Chattogram and BDT 73,000-75,000/t ($599-616/t) in Dhaka.
Turkiye: Deep-sea import scrap prices saw mixed movements in the last few days. US-origin HMS 80:20 was traded at $350/t CFR, with shredded at $370/t CFR, supported by a strong euro, while high ocean freights limited overall trading activity.
The market faced pressure from slowing collection and high freight costs, causing participants to expect near-term price softening. Despite some deals being heard, sentiment remained cautious as buyers and sellers balanced costs against weaker demand and fluctuating currency levels.
Price assessments
India: UK-origin shredded prices remained stable at $355/t CFR Nhava Sheva compare to last closing day (friday).
Pakistan: UK-origin shredded prices saw a fell of $2/t compare to friday at $365/t CFR Qasim.
Bangladesh: UK-origin shredded prices remianed stable to $369/t CFR Chattogram compare to last closing day (friday).
Turkiye: US-origin HMS 80:20 bulk prices were $350/t CFR Turkiye, down by $1/t compare to last closing day.
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