- India: Buying remained weak amid poor import viability
- Pakistan: Trading stayed quiet with cautious procurement
South Asia’s ferrous scrap markets remained subdued on 11 August, with cautious buying and weak import viability weighing on India, Pakistan and Bangladesh, while Türkiye stayed stable as summer inactivity and limited fresh trading kept prices range-bound.
India: Imported ferrous scrap market remained quiet, with limited fresh buying interest amid weak import viability and the ongoing monsoon season. Europe-origin turnings were sold at $290/t CFR Mundra, while HMS 80:20 was offered around $340/t. UK-origin shredded scrap offers were heard at $390-395/t CFR, against indicative bids near $370/t.
Pakistan: Imported ferrous scrap trading in Pakistan remained quiet d-o-d, with UK-origin shredded scrap offered at around $415/t CFR Qasim against buyer bids at $410-412/t. Local scrap prices remained at PKR 150,000-155,000/t, reflecting cautious buying and limited fresh activity.
Bangladesh: Bangladesh’s imported ferrous scrap market remained subdued, with mills keeping procurement selective amid weak finished steel demand. Australia/New Zealand-origin HMS 90:10 offers eased to $365/t CFR Chattogram from $375/t, against bids near $360/t. UK-origin shredded was indicated around $395/t, while HMS 80:20 offers were heard at $375-380/t CFR.
Turkiye: Deep-sea ferrous scrap prices remained stable d-o-d on 11 Aug, with US-origin HMS 80:20 assessed at $375/t CFR, unchanged from the previous assessment. Trading activity remained muted amid the summer lull, with limited fresh bids and deals. A US-origin cargo lastly booked at $375/t CFR continued to anchor market levels, while participants expected prices to remain stable over the next two to three weeks.
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