South Asia: Imported ferrous scrap market resumes post-Eid, trade yet to improve

South Asia’s imported scrap market is gradually resuming after the one-week-long Eid holidays. Market participants are waiting to get a clearer picture of Turkiye’s imported scrap trade activities before taking decisions. Moreover, due to the rainy season, no construction activities are happening at present, SteelMint understands.

• SteelMint’s assessment of UK-origin shredded scrap stands at $470/t CFR Qasim, falling by $5/t against yesterday’s price.
• Around 500 t of West Africa-origin HMS was traded at $442/t, CFR Mundra. Shredded scrap prices into India stood at $470-480/t CFR Nhava Sheva, largely stable d-o-d.
• SteelMint’s assessment of UK-origin shredded scrap stands at $505/t CFR Chittagong, dipping by $3/t d-o-d.