- Turkiye: Limited European supply underpins stable scrap prices
- India: Monsoon and unviable imports keep trading subdued
South Asian imported ferrous scrap markets remained subdued on 30 Jul, with weak buying interest in India and Bangladesh amid unviable import prices, while Pakistan maintained firm sentiment on tight supply. Meanwhile, Turkiye’s market stayed stable, supported by constrained European scrap availability despite slower summer trading.
India: Imported ferrous scrap trading in India remained subdued as the three-month monsoon period continued to dampen buying activity. Market participants reported negligible shredded scrap arrivals and limited HMS transactions, with buyers procuring cargoes only on a need basis through negotiated deals rather than at benchmark market prices.
Indicative workable levels for HMS 80:20 remained around $320-330/t CFR India, while UK and EU-origin offers were largely above $345-350/t CFR, with premium yards quoting $355-360/t CFR. Australia-origin HMS was offered at $335-340/t CFR Chennai, while shredded scrap was indicated at $365-370/t CFR, keeping imports largely unviable for Indian buyers.
Pakistan: Imported ferrous scrap prices in Pakistan remained firm, supported by limited supply and steady buying interest. UK-origin shredded scrap was heard traded at $418-419/t CFR Port Qasim on 29 Jul, while domestic shredded scrap prices remained around $402/t, highlighting the continued premium for imported material.
Bangladesh: Imported ferrous scrap trading activity in Bangladesh remained subdued as buyers maintained cautious purchasing amid elevated offer levels. Bulk HMS prices were indicated at $390-395/t CFR, while buyers’ bids remained near $385/t CFR, limiting fresh deals.
US-origin HMS continued to be the most competitive at around $380/t CFR. In comparison, Singapore-origin HMS was offered near $400/t CFR, while Japanese H2 and HS grades were quoted at $395-400/t CFR and $425/t CFR, respectively, attracting limited buying interest due to their higher prices.
Turkiye: Turkish imported deep-sea ferrous scrap prices remained stable day-on-day on 30 Jul as trading activity slowed amid the summer holiday period. Softer mill demand and fewer active buyers kept fresh bookings limited, with mills bidding around $365/t CFR for EU- and UK-origin HMS 80:20, while US-origin cargoes were indicated near $380/t CFR.
Despite muted trading, prices continued to find support from constrained European scrap availability. Persistently low water levels on the Rhine disrupted exports from Germany’s hinterland, limiting cargo availability and keeping offer levels firm despite subdued buying interest.
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