South Asia: Imported scrap markets show subdued, holiday-hit sentiment

• Holiday disruptions kept South Asian scrap trade subdued
• Prices steady amid weak demand and low utilisation

South Asian imported scrap markets remained largely subdued at year-end, as holiday-led inactivity, low mill utilisation, and limited offers kept buying cautious. Prices stayed mostly stable across India, Pakistan, and Bangladesh, while participants awaited clearer post-holiday direction.

India: Indian imported containerised shredded scrap prices stayed largely steady on first day of new year, holidays continued to curb buying interest and limit fresh offers. European shredded was assessed at $350-355/t CFR, while UK-origin HMS 80:20 stood at $325-330/t and Chilean HMS 90:10 at $330-335/t CFR. PNS from Hong Kong and Malaysia was heard traded at $355-360/t CFR Chennai, with most origin markets closed except Africa and the Middle East.

On the West Coast, Australia-origin HMS 80:20 was indicated at $315-320/t, shredded at $340-345/t, and PNS at $342-345/t CFR. Poland-origin HMS was quoted at $335-340/t, while Brazilian HMS stood at $325-330/t CFR Mundra, with bids about $5/t lower.

Pakistan: Imported scrap activity in Pakistan remained subdued, with limited buying interest as mill utilisation hovered around 40%, keeping the overall market largely at a standstill. UK- and UAE-origin shredded scrap was reported at around $365-370/t CFR Qasim, including $370/t for UAE shredded and about $345/t CFR for UAE-origin sheared HMS, while local scrap prices were indicated at PKR 128,000-130,000/t ($457-464/t).

Bangladesh: The imported scrap market in Bangladesh remained slow, with Australian-origin PNS/busheling indicated at around $365-370/t CFR Chattogram, while HMS 90:10 and shredded were quoted in the $350-360/t range. Overall market indicatives showed HMS 80:20 at $325-330/t and HMS 1 at $335-340/t CFR Bangladesh, while domestic scrap prices were reported at BDT 47,000-48,000/t ($385-393/t).

Turkiye: Deepsea scrap market started the new year on a quiet note, as New Year holidays kept most participants away and trading activity muted. Market players are awaiting clearer near-term price direction once buyers return to book fresh tonnages amid seasonal supply tightness, though downstream uncertainty continues to weigh on sentiment. Meanwhile, recyclers maintained firm offer levels, with European HMS 80:20 booked at $363-366/t CFR and US-origin HMS at $370-375/t CFR.