The South Asian imported ferrous scrap market saw a slight uptick in prices today. The Pakistan market remained silent with no buying enquiries. Meanwhile, the Indian ferrous scrap market remained tepid as because of scrap availability at ports, several buyers were not considering making container bookings for now though a few deals for Europe-origin were heard.
A deal was also heard to have been concluded in the Bangladesh market.
There has been a lot of restocking going on in the Turkish ferrous scrap market as around ten deep-sea cargo deals were heard since 15 Feb’23.
Recent deals-
- Around 500 t of containerised HMS (80:20) scrap of Europe-origin has been booked at $445-450/t CFR Nhava Sheva.
- Around 500 t of containerised shredded of Europe-origin has been booked at $460/t CFR Nhava Sheva.
- Around 500 t of containerised PNS of Europe-origin has been booked at $470-475/t CFR Nhava Sheva.
- Around 5,000 t of Europe-origin HMS (90:10) and PNS have been booked at $478/t and $498/t respectively CFR Bangladesh.
Price assessments
- Europe-origin shredded scrap offers into India were at $460/t CFR Nhava Sheva, up by $5/t d-o-d.
- UK-origin shredded scrap prices stood at $495/t CFR Chittagong, up by $2/t d-o-d.
- UK-origin shredded scrap prices were at $470/t CFR Qasim, up $5/t d-o-d.
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