- Firmer steel demand in India fails to revive scrap imports
- Turkish scrap prices remain stable on tight US supply
South Asia’s imported ferrous scrap markets remained largely subdued. India, Pakistan, and Bangladesh faced weak buying interest amid high and unworkable offers. Meanwhile, Turkish prices firmed up as supply tightened on expectations of higher US domestic scrap prices.
India: India’s imported containerised ferrous scrap market stayed subdued, as firmer steel demand did little to revive buying amid largely unworkable offer levels, which kept buyers cautious and highly price-sensitive. Chile-origin HMS 80:20 in 20-ft containers was heard at $333-335/t, while shredded hovered around $357/t, with UK-origin shredded offers near $355/t CFR.
Pakistan: Pakistan’s imported scrap market remained selective, with export offers staying high while buyers showed limited appetite and focused only on workable levels of around $362-365/t CFR.
Bangladesh: The imported scrap market remained weak, with buyers showing limited appetite. The January Kanto tender recorded its sixth consecutive increase, signalling firmer sentiment in Japan. However, this strength failed to translate into buying interest, with Australian HMS 80:20 indicated at $340-342/t and shredded at $362-364/t.
Turkiye: Deep-sea imported scrap prices moved above $370/t in recent days and were stable on a d-o-d basis, supported by expectations of a $20-30/t rise in US domestic scrap prices in January. This led US exporters to prioritise domestic sales, tightening export availability, with US-origin scrap currently offered at around $372-375/t, reinforcing underlying support in the Turkish import market.
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