Continuous volatility was observed in the imported scrap market in South Asia today. Indian and Bangladeshi buyers remained neutral, while imported scrap prices fluctuated in Pakistan as deals got concluded at lower prices today. However, offers remain on the higher side.
“Unstable currency exchange rates in Bangladesh remains the major issue and production problems arose due to gas and power cuts. But from January 2023 the market may improve,” a Bangladeshi steel mill source informed.
Trade
- Around 4,000-5,000 t of shredded scrap of Europe-origin was traded at $413/t CFR Qasim in the past few days.
SteelMint’s price assessment
- Europe-origin shredded scrap offers into India were at $415/t CFR Nhava Sheva.
- UK-origin shredded prices stood at $441/t CFR Chittagong.
- UK-origin shredded scrap prices were at $416/t CFR Qasim.
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