South Asian buyers stepped back from the market owing to limited activities. Subdued finished steel demand and festive holidays due to Ganesh Chaturthi weighed upon imported scrap demand in India. As the Turkish buyers are also quiet, other prominent scrap buyers are holding back further bookings.
Limited deals have been heard in Pakistan at $485-487/t, CFR Qasim.
Price assessment
- UK-origin shredded scrap prices were at $485/t CFR Qasim, unchanged against yesterday’s closing price.
- Shredded scrap prices were at $500/t CFR Chittagong, unchanged compared to d-o-d.
- Europe-origin shredded scrap offers in India stood at $480-485/t CFR Nhava Sheva, unchanged d-o-d.
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