South Asia’s imported ferrous scrap prices slipped at the start of the week, making buyers cautious from booking any fresh cargo. Imported scrap offers to India remained mostly stable while Pakistani buyers have held fresh bookings despite a further correction in offers due to the continuous depreciation of the national currency (PKR).
In Bangladesh, deals for small quantities have been heard to meet the urgent requirement as there is a shortage of scrap in the domestic market.
- SteelMint’s assessment of UK-origin shredded scrap stands at $455-460/t CFR Qasim, unchanged against last week’s closing.
- Shredded scrap prices into India stood at $460-465/t CFR Nhava Sheva, unchanged against last week’s closing.
- Around 1,000 t shredded scrap of UK/Europ-origin was traded at $475/t, CFR Chittagong. SteelMint’s assessment of UK-origin shredded scrap stands at $480/t CFR Chittagong, down by $5/t compared to previous week’s closing.
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