South Asia’s imported scrap market is largely mute in terms of fresh bookings, despite the fall in offers. Limited demand from buyers, the ongoing currency devaluation, and a sluggish Turkey scrap market led to the slow start this week.
Meanwhile, in Bangladesh, higher electricity tariffs and limited gas availability for reheating furnaces led to production cuts.
- SteelMint’s assessment of UK-origin shredded scrap stands at $470-480/t CFR Qasim, falling by $5-10/t against last week.
- Shredded scrap prices into India stood at $470-480/t CFR Nhava Sheva, a drop of $5/t compared to the previous week’s closing.
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