- Indian buyers target lower prices amid narrow mill margins
- Pakistan’s bids trail offers, Bangladeshi buyers stay on sidelines
South Asian imported scrap markets remained subdued on 8 June 2026, with weak steel demand, cautious buying, and wide bid-offer gaps continuing to limit fresh bookings across India, Pakistan, and Bangladesh. Meanwhile, Turkiye’s deep-sea scrap market softened amid weak steel fundamentals and cautious mill procurement.
India: The imported ferrous scrap market remained weak, with buying interest staying limited amid poor steel demand and weak mill margins. Market participants indicated that current market conditions are not supportive of fresh bookings, with buyers targeting HMS 80:20 around $340/t CFR and Australia-origin shredded scrap near $365/t CFR. Indicative offers were heard at $340-350/t CFR for UK-origin HMS, $400-405/t CFR for UK-origin shredded scrap, $305/t CFR for Africa-origin LMS bundles, and $315/t CFR for Africa-origin HMS bundles.
Despite the cautious sentiment, a few spot transactions were heard, including Brazil-origin HMS 80:20 (2% impurities) at $325/t CFR Mundra, UK-origin shredded scrap at $405/t CFR Mundra, and Malaysia-origin turnings at $340/t CFR Chennai. Market participants indicated a workable level of around $355/t CFR for UK-origin HMS, while bids remained lower at $340-345/t CFR.
Pakistan: The imported scrap market remained subdued, with trading activity staying slow as buyers targeted shredded scrap around $415-420/t CFR Qasim. A UAE-origin HMS cargo of 500 t was heard booked at $420/t CFR Qasim, while a Germany-origin hand-loaded shredded scrap cargo of 750 t was at $430/t CFR Qasim. However, overall market sentiment remained cautious amid limited buying interest and a persistent bid-offer gap.
Bangladesh: The imported scrap market remained subdued, with mills continuing to prioritise domestic scrap purchases due to better price competitiveness. Buying interest in imported material stayed limited, while indicative offers were heard at $410-415/t CFR for UK-origin shredded scrap and $380-385/t CFR for HMS 80:20 CFR Chattogram. Market participants reported no major fresh bookings, as buyers largely remained on the sidelines awaiting more attractive price levels.
Turkiye: The deep-sea imported scrap market softened amid weak steel demand and cautious mill buying. Tradable levels for US-origin HMS 80:20 were heard at $405-408/t CFR, while EU-origin material was at $393-395/t CFR. Market sentiment remained bearish, although limited scrap availability may help prevent a sharp price decline.
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