South Asian imported scrap markets stay flat as selective buying persists

• India, Bangladesh quiet as buying remains limited
• Turkiye prices firm on tight supply demand

South Asia’s scrap markets remained subdued, with weak buying in India and Bangladesh and price stability in Pakistan amid margin pressure, while Turkiye saw firmer prices on tighter supply and strong mill demand for near-term shipment requirements.

India: Imported scrap demand in India remained subdued, with low interest in HMS, busheling, and shredded at current levels as inventory pressure continued to limit buying to only selective bookings; offers were heard at around $325/t for HMS 1 from Australia to Chennai and $342-345/t for PNS from Australia to Chennai, while UK-origin shredded was quoted at $340-345/t and HMS 80:20 at $320-325/t CFR Chennai.

Pakistan: Imported scrap prices remained stable day on day, with EU-origin shredded holding at $355-358/t CFR and workable levels near $350/t, while UAE-origin HMS 80:20 was assessed at $338-340/t CFR.

Domestic scrap was reported at PKR 128,000-130,000/t ($456-463), billet at PKR 185,000-188,000/t ($660-670), and bala at PKR 175,000-178,000/t ($624-635). Producers turned cautiously optimistic on expectations of higher infrastructure spending, reconstruction-led demand recovery, and stronger enforcement against tax evasion.

Bangladesh: Imported scrap demand in Bangladesh remained subdued, with limited buying interest at prevailing levels, as Australian-origin offers were heard at around $330-332/t CFR for HMS 80:20, $335-340/t for HMS 1, $360-362/t for shredded, and $364-365/t for PNS; however, sellers were reluctant to close at these rates despite buyer interest at lower bids seen around $355/t for PNS, $350/t for shredded, $335/t for HMS 90:10, and $325-330/t for HMS 80:20 CFR Chattogram from Australia, New Zealand, and Singapore origin, while domestic sentiment remained weak with finished steel demand only average.

Turkiye: Deep-sea scrap import prices largely stable d-o-d on seasonal supply tightness and limited seller offers, with higher freight squeezing margins and supporting firmer sentiment.

Mill demand remained steady as buyers covered January-February needs. US-origin HMS 80:20 was indicated near $370/t CFR, with supply constrained partly due to increased buying interest from India.