- Freight volatility continues to influence global trade
- Sellers hold firm amid limited scrap availability
Imported scrap market trends remained largely stable across India, Pakistan, and Turkiye, with cautious buying and limited trade activity. In contrast, Bangladesh market showed a firm uptrend, supported by tight availability of high grades and elevated offer levels.
India: Imported scrap offers showed mixed trends. Brazil-origin HMS (2-3% impurities) was heard at $360-365 CFR Mundra/Nhava Sheva, while South American HMS 90:10 and shredded stood at $390-400 CFR Nhava Sheva. Containerised shredded increased to $400-405 CFR Nhava Sheva (UK and US origin), with tradable/bid levels at $385-400 and bids at $380-385/t. Overall, demand in India stayed weak, with buyers preferring HMS amid elevated freight costs.
Pakistan: Pakistan market sentiment remained weak, with demand for semi-finished and finished steel reported as slow amid a recent rise in fuel prices. UK/Europe-origin shredded was heard at $424/t CFR Qasim for April shipment (for 500 t loading). A deal for UK-origin shredded was reported at $418/t CFR Qasim (500 t). Meanwhile, Malaysia-origin shredded (25t loading) was offered higher at $440-445/t CFR Karachi for April arrival (25-30 April, 500 t). Overall, offers remained firm, with limited volumes traded at comparatively lower levels.
Bangladesh: Imported scrap prices in Bangladesh remained firm d-o-d, with limited availability in premium grades. Brazil-origin HMS was offered at $400/t CFR (available with 1-2% impurities), while shredded was indicated at $410/t but largely unavailable, with firm offers at $415/t.
Busheling was also scarce, with indicative levels at $425/t, while higher offers at $430/t CFR were linked to longer delivery timelines of 30-40 days.
Separately, Hong Kong-origin PNS was heard at $425/t CFR. Market participants noted limited availability of shredded and busheling at lower levels, keeping overall sentiment firm.
Turkiye: Deep-sea bulk HMS scrap prices remained stable on 3 April, with HMS 80:20 assessed around $402/t CFR d-o-d, indicating a largely steady trend.
Tradable values for US-origin HMS 80:20 were reported near $400-405/t CFR. Market sentiment stayed firm on limited availability of imported billet and slab, with China-origin billet offers heard up to $505-510/t CFR.
Higher energy costs and ongoing geopolitical tensions continued to support prices, while elevated input costs kept pressure on mill margins despite slightly improved rebar export offers at $600-610/t FOB.
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