- India: Small imported scrap deals; shredded bids still lowe
- Turkiye: Deep-sea scrap steady despite firmer spot activity
Imported scrap markets in South Asia remained mostly steady, with small-volume buying in India, stable shredded prices in Pakistan, weak interest in Bangladesh, and unchanged Turkish deep-sea prices despite firmer spot activity.
India: Indian imported scrap sentiment showed mild improvement as small-volume deals were concluded, including Kuwait PNS at $340/te CFR Mundra and West African HMS 80:20 at 330 dollars. Market participants indicated a slightly positive tone for the week.
Containerised shredded prices slipped, with offers at $360/t CFR Nhava Sheva and bids at $340-345/t as weak domestic steel sentiment kept buyers cautious. Despite lower bids, overall imported scrap conditions remained largely steady d-o-d.
Pakistan: Imported shredded scrap prices in Pakistan remained stable at $355-356/t CFR Qasim, with European and UK-origin material assessed near $355/t. Buying interest improved slightly, with 2-3 trades concluded at $355-356/t, while UAE-origin offers remained higher at around $370/t.
Bangladesh: The imported scrap market stayed quiet, with prices softening as buying interest remained weak. Australian HMS 80:20 was heard around $330/t CFR, while shredded offers held higher at $360-365/t. Other HMS grades hovered at $345-350/t amid limited trading, reflecting mills’ continued caution and low procurement appetite.
Turkiye: Turkish deep-sea import scrap prices were unchanged at the end of the week, with participants noting increased spot activity. US-origin or premium HMS 80:20 was heard in a tradable range of $354-357/t CFR, with most discussions near $356/t, supported by a firm Euro and steady freight rates.
In the downstream market, participants stayed cautious on rebar pricing as export demand remained subdued.
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