- UK-origin enquiries signal renewed import activity
- Competitive domestic scrap, DRI prices pressure import market
India-bound ferrous scrap containerised freight sentiment was mixed during the week ended 15 October 2026, with rates rising on UK-India routes while Australia-Chennai freights remained unchanged. Enquiries for UK-origin scrap indicate a tentative resumption in Indian import activity; however, buying remains selective, with only a handful of buyers active and trade volumes still below regular levels.
In India, lower domestic scrap prices, ample local material availability, and weak rebar demand continued to limit import interest. Market participants also reported that high container freight costs were restricting sellers’ flexibility to reduce offers, widening the gap between buyer bids and seller expectations.
A shipbroker stated, “India’s imported scrap market has witnessed a resumption in buying activity, with some UK-origin movements recorded. However, only a handful of buyers remain active, indicating that procurement is still selective and far below regular trading levels. Sustained recovery in import demand remains uncertain amid cautious buying sentiment.”
Recent UK-origin enquiries suggest a tentative revival in India’s imported scrap procurement; however, broader market activity remains subdued, with buying largely restricted to selective requirements. Competitive domestic scrap and DRI prices, cautious finished-steel demand and a wide bid-offer gap continue to limit import bookings. Meanwhile, higher freight quotations on UK-India routes could further pressure landed costs, even as Australia-Chennai rates remain stable. The key indicator to watch is whether current enquiries translate into confirmed bookings and sustained shipment volumes.
Global scrap market sentiment
India’s imported scrap market remained subdued amid cautious buying, lower domestic scrap prices and weak rebar demand, while Pakistan saw easing European shredded offers amid limited price competitiveness. In contrast, Bangladesh saw active import interest for Australian scrap. In Turkiye, softer rebar demand weighed on sentiment, while elevated dry-bulk freight costs continued to constrain sellers’ pricing flexibility, limiting the scope for further price declines.
Outlook
UK-India container freight rates may remain firm amid renewed buyer enquiries and higher freight quotations, although limited scrap bookings could restrict further increases. Australia-Chennai rates are likely to remain stable in the near term, while a sustained recovery in Indian import demand will depend on improved steel market conditions, competitive landed costs, and stronger buying interest.
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