- Bangladesh books selective cargoes amid weak sentiment
- Pakistani buyers seek lower prices as steel sales stay slow
Imported ferrous scrap sentiment remained subdued across South Asia on 19 June 2026 amid weak steel demand despite easing tensions in the Middle East. Indian buyers stayed cautious, Pakistan targeted lower shredded prices, and Bangladesh booked selective Brazil-origin cargoes. Meanwhile, Turkish deep-sea scrap prices remained largely stable amid weak rebar demand and limited trading activity.
India: The imported ferrous scrap market remained subdued, with buying interest weak across major consuming regions. Demand for shredded scrap in southern India remained limited due to the availability of competitively priced busheling scrap, while HMS buying interest also remained muted.
Deals were reported for Malaysia-origin LMS bundles at $325/t CFR Chennai, Thailand-origin turnings at $315/t CFR Chennai, and Somalia-origin LMS bundles at $315/t CFR Mundra. Offer indications included Australia-origin shredded scrap at $380/t CFR, UK-origin shredded at $385/t CFR, US-origin shredded at $410/t CFR, Africa-origin HMS 80:20 at $340/t CFR, and UK-origin HMS at $343-355/t CFR.
Pakistan: Imported shredded scrap sentiment softened further, with buyers continuing to target lower price levels amid cautious steel procurement. The latest Malaysia-origin shredded scrap deal to Karachi was reported at $430/t CFR, while current UK/EU-origin offers were heard at $410-415/t CFR. Domestic scrap prices were assessed at PKR 152,000-156,000/t ($546-561/t), keeping buying interest in imported cargoes limited.
Bangladesh: The imported scrap market remained weak, with buying activity limited despite a few concluded transactions. Brazil-origin PNS was reported at $425/t CFR Bangladesh, while Brazil-origin HMS 90:10 was heard at $385/t CFR. Meanwhile, offer indications included UK-origin shredded scrap at $407-410/t CFR, UK/EU-origin PNS at $420/t CFR, US-origin containerised HMS 80:20 at $375-380/t CFR, and Australia-origin shredded scrap above $400/t CFR, while buyers continued to target lower workable levels.
Turkiye: Deep-sea imported scrap prices remained largely stable on 19 June, with trading activity staying muted as buyers and sellers awaited fresh benchmark transactions. Turkish mills maintained a cautious procurement approach amid weak domestic and export rebar demand, while US suppliers continued to resist lowering offers below $400/t CFR. Indicative offer levels were heard at $395/t CFR for US-origin HMS 80:20 and $415/t CFR for shredded scrap, with tradable values for US-origin HMS 80:20 assessed at $385-398/t CFR.
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