The South Asian ferrous scrap market remained active for the second consecutive day with most deals reported for Pakistan and India. Deal prices remained high as Turkish mills have created a momentum in the market via continuous bookings with the commencement of the New Year. Meanwhile, Bangladesh LC opening issues are still out of control. Indian buyers somehow managed to procure a few deals at increased prices.
In a recent deal, European scrap suppliers booked HMS (90:10) at $421-422/t CFR Turkiye to a Black Sea region-based steel mill.
Another European scrap supplier sold HMS (80:20) at $412.5/t CFR Turkiye to a West Maramara-based steel producer.
Two Benelux-origin cargoes have been booked at $408/mt CFR Aegean and $409/mt CFR Turkiye (West Marmara).
Recent deals:
- Around 9,000 t of containerised shredded scrap of European origin was booked at a price range of $458-462/t CFR Qasim.
- Around 1,100 t containerised HMS (80:20) of West African origin was booked at $440/t CFR Nhava Sheva.
- Around 1,000 t of shredded containerised scrap of European origin was booked at $455/t CFR Nhava Sheva.
SteelMint’s price assessment
- Europe-origin shredded scrap offers into India were at $458/t CFR Nhava Sheva, unchanged d-o-d.
- UK-origin shredded scrap prices stood at $470/t CFR Chittagong – stable compared to previous offers.
- UK-origin shredded scrap prices are at $465/t CFR Qasim, largely flat compared to last offers.
Leave a Reply