- India: Mild recovery seen but bid-offer gaps persist
- Turkiye: Prices steady, mills cautious amid winter outlook
South Asia’s imported scrap prices remained largely stable, with limited buying in India and Bangladesh. Prices remained steady in Pakistan, while Turkish demand was muted amid steady rebar sentiment and seasonal tightness.
India: The imported ferrous scrap market in India showed mild improvement today as Ludhiana prices moved up, though bid-offer disparities persisted. Hand-loaded HMS from Mozambique (1%) was offered at $330/t, with bids at $325/t. Shredded scrap remained unviable above $350/t, while Polish HMS stood at $325/t and Irish turning (3%) saw offers at $310/t against bids of $295/t.
Sentiment stayed weak amid sluggish finished steel demand and limited mill buying. Offers stood at $312-315/t for HMS, $330/t for PNS, and $350-355/t CFR for Japanese bulk mix bundles. Domestic rebar prices hovered around INR 41,000-43,000/t.
Pakistan: Imported shredded scrap prices in Pakistan held steady w-o-w at $355-356/t CFR Qasim, with European and UK-origin material assessed around $355/t. Buyers were active at $355/t for shredded, while UAE-origin offers hovered near $370/t. In the domestic market, local scrap traded around PKR 135,000/t delivered.
Bangladesh: The imported scrap market remained quiet, with prices continuing to decline amid weak buying interest. GI bundle offers were around $310/t, with buyers bidding $305/t. HMS 80:20 from Australia was heard at $330/t, while HMS-PNS mixed cargoes from Hong Kong were offered at $330-335/t. Australian shredded scrap offers stood higher at $360-365/t CFR, with HMS offers around $345-350/t CFR.
Turkiye: Imported deep-sea scrap prices in Turkiye stayed stable as limited US cargo supply and cautious mill buying kept trade subdued. US sellers targeted $360-365/t CFR, while tradable HMS 80:20 values held at $354-357/t. Prices may tighten due to reduced winter scrap collection, while rebar offers firmed to $560-570/t FOB but bids were lower.
Leave a Reply