- Indian prices rise despite wide bid-offer gaps limiting trade activity
- Pakistan market inactive amid rainfall-driven construction disruptions
South Asian imported ferrous scrap prices remained stable d-o-d on 26 August 2026. India’s market firmed despite wide bid-offer gaps, while Pakistan’s market remained subdued despite a fresh deal. Bangladesh was also stable on new bookings, while Turkiye’s deep-sea scrap market remained largely steady too.
India: India’s imported containerised scrap market firmed d-o-d, although the bid-offer gap continued to limit transactions. US-origin bulk HMS 80:20 bids were heard at $360/t CFR Kandla, while Chennai buyers indicated interest in shredded at $360-365/t, African HMS at $340-345/t and turnings at $310/t. UK HMS with 1% impurities was offered at $345-350/t, while 3% impurities material was heard at $335/t.
Meanwhile, Australian material to Chennai was indicated at $325-335/t for HMS and $355-365/t for shredded. However, supplier offers remained higher, with US-origin HMS 80:20 at $380-385/t, shredded at $390-400/t, African HMS at $355-360/t and turnings at $325-330/t, keeping deal-making limited.
Pakistan: The imported shredded scrap market remained largely inactive amid continued monsoon disruptions to construction activity, steel movement and mill operations. Although rainfall is expected to ease, buyers remained cautious and largely procured material only for immediate requirements. Offers for shredded scrap were heard at $418-420/t CFR Qasim, with workable levels around $412-415/t and bids at $410-412/t.
Imported scrap trade remained quiet, with limited fresh deals reported despite offers from US and EU suppliers. However, a Pakistani buyer was heard booking 1,000 t of UK-origin shredded scrap at $415/t CFR Qasim.
Bangladesh: Imported scrap market remained stable, with fresh deals providing support to prevailing price levels. A Philippines-origin HMS 90:10 cargo was sold at $378/t CFR Chattogram, while 1,000 t of Singapore-origin PNS was booked at $415/t and 1,000 t of Philippines-origin HMS 1 at $375/t CFR Chattogram.
Turkiye: Deep-sea imported scrap prices remained stable on 26 August, although a few fresh deals were reported over the past two days. Baltic-origin material was sold at $369/t CFR for HMS 80:20 and $389/t for bonus, while a Netherlands-origin cargo was sold, comprising 12,000 t of HMS at $370/t CFR, with the remaining bonus and shredded material priced at $390/t. The total cargo volume was estimated at around 25,000-30,000 t.
Market participants do not expect a significant price rise this week, as mills remain unable to increase finished steel prices, while billet availability from the Far East could influence the need to reassess scrap price levels.
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