- Indian mills adopt cautious stance, make need-based purchases
- Bangladesh sentiment improves on project demand expectations
South Asia’s imported scrap prices were stable d-o-d on 18 February 2026. Cautious buying kept Indian prices stagnant, while Bangladesh remained firm on improved election week sentiment. Meanwhile, firm export offers kept Pakistan’s prices stable, though demand slowed amid Ramadan.
In the global benchmark market, Turkiye, prices were slightly softer d-o-d, as muted rebar demand limited fresh deep-sea bookings.
India: Imported scrap prices into India were largely steady, with offers reflecting a mixed trend across origins. UK-origin HMS 80:20 (3% impurities) was heard at $335-338/t CFR, European HMS 80:20 at $340-342/t, and clean US-origin HMS 80:20 at $352/t. Malaysian heavy bundle (88% yield) was offered at $322/t, while shredded scrap ranged between $368-375/t depending on origin.
At Chennai, HMS 80:20 was indicated at $350-355/t CFR, with buyer bids closer to $345/t, highlighting negotiation gaps. HMS 90:10 was offered above $360/t, though buying remained selective amid cautious mill sentiment.
Bangladesh: Sentiment improved after the election week in Bangladesh, supported by expectations of new project demand and the resumption of steel production across several mills. Imported scrap prices remained firm, with HMS 80:20 heard at $360/t and above, and HMS 90:10 around $370/t CFR.
Australia-origin offers reflected similar strength, with HMS 80:20 at $360/t+, HMS 1 at $370/t, shredded at $380-382/t against bids of $372-375/t, and PNS at $380-385/t. Buying interest improved selectively, though negotiations remained price-sensitive.
Pakistan: Imported shredded scrap prices in Pakistan remained firm, with EU-origin material assessed at $381/t CFR Qasim and offers heard at $380-382/t CFR. Buyers tested lower bids but failed to secure deals as yard prices and export offers stayed supported by healthy order books. However, buying interest remained weak amid Ramadan, with most mills refraining from fresh bookings, while local scrap held steady at PKR 138,000-140,000/t ($493-501/t).
Turkiye: Deep-sea import scrap prices edged lower, with HMS 80:20 largely stable around $375/t CFR amid muted trading activity. Deal flow remained limited as buyers and sellers stayed in a pricing stalemate, with mills expecting lower levels due to ample EU offers, while traders resisted further cuts.
Downstream, rebar demand remained weak in both domestic and export markets, keeping mills cautious. Market participants remained divided on the near-term direction, with sentiment subdued and fresh bookings limited.
Leave a Reply