- Wide bid-offer gaps limit deal closures in Bangladesh
- Indian market remains quiet despite improving demand
South Asian ferrous scrap markets remained subdued on 12 August 2026, with cautious buying and limited fresh transactions across India, Pakistan, and Bangladesh. Turkish market sentiment also remained stable as mills adopted a wait-and-see approach amid limited near-term procurement.
India: The imported ferrous scrap market remained quiet, with no firm offers, bids or trades heard for containerised shredded scrap. UK-origin shredded scrap was indicated at around $325-330/t, while hand-loaded material was heard at $345/t. HMS 80:20 was offered around $340/t, while UK-origin shredded offers were heard at $390-395/t CFR against indicative bids near $370/t. Demand was reportedly improving gradually on the back of stronger billet exports, although this has yet to translate into significantly higher HMS bid levels.
Pakistan: Imported ferrous scrap trading remained relatively stable, while changes in sales tax laws weighed on the local scrap market. Higher tax costs have prompted mills using domestic scrap to reduce purchases and adopt a wait-and-see approach, while yards have held back supplies due to increased costs. Shredded scrap offers were heard at $420/t CFR, with fresh material offered at $414-416/t CFR, while a deal for arrived material was concluded at $417/t CFR.
Bangladesh: Imported ferrous scrap market remained subdued, with buying interest cautious and a wide gap between seller expectations and buyer bids. UK-origin shredded scrap was indicated around $395/t CFR, while Australia- and South America-origin HMS 80:20 attracted bids at around $365/t CFR against offers at $380-385/t CFR. No deals were concluded at these levels, although market participants expect some bookings to emerge soon.
Turkiye: Deep-sea ferrous scrap prices remained stable d-o-d, with US-origin HMS 80:20 workable at around $375/t CFR. European HMS 80:20 was heard at around $370/t, with US and good-quality European scrap prices moving closer. Market activity was limited, with European sellers largely absent due to the ongoing summer holidays.
Low water levels on the Rhine near Kaub, amid hot and dry weather, have disrupted inland scrap flows. Turkish mills have largely secured August cargoes, while smaller and mid-sized mills are mainly seeking end-September arrivals, keeping near-term buying pressure limited.
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