The South Asian ferrous scrap import market remained lukewarm today, with limited deals, especially in Bangladesh. After a long gap, the country has resumed import bookings at increased prices. Indian ferrous scrap prices remain stable as buyers wait for fresh offers. Pakistan’s import market, too, saw stability in scrap prices even as the major mills have lifted rebar prices recently owing to increased input costs.
A deal for Europe-origin scrap was heard concluded by a Turkish mill at $8-10/t less than another deal heard from the US last week.
Recent deals:
Around 3,000 t of Europe-origin ferrous scrap consisting of 2,000 t of HMS (90:10) was booked on CNF Chittagong basis at a price range of $465-470/t, while 1,000 t of PNS scrap was booked at $490/t.
SteelMint’s price assessments
- Europe-origin shredded scrap offers into India are at $460/t CFR Nhava Sheva, up $2/t d-o-d.
- UK-origin shredded scrap prices stand at $478/t CFR Chittagong, an increase of $5/t compared to previous offers.
- UK-origin shredded scrap prices are at $468/t CFR Qasim, up by $3/t compared to previous offers.
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