South Asia’s imported scrap sellers are in a dilemma after the latest Turkish deal. However, buyers were still not ready to book any cargo until demand for finished steel improves, as per sources. Both parties are holding back and waiting for a clear market direction.
Price assessment
- Europe-origin shredded scrap offers in India stood at $450/t CFR Nhava Sheva, unchanged against last week’s closing.
- UK-origin shredded scrap prices were at $470-475/t CFR Chittagong, stable compared to the previous week.
- UK-origin shredded scrap prices were at $440-445/t CFR Qasim, unchanged.
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