- Turkiye: Prices firm as winter onset tightens scrap supply
- Bangladesh: Buyers inactive due to liquidity woes, slow sales
South Asia’s imported scrap markets stayed mostly quiet, with India and Bangladesh remaining subdued amid weak demand, while Pakistan held stable. urkiye saw slight gains on tightening supply.
India: The imported ferrous scrap market remained quiet, with limited buying interest from mills. HMS from the UK/Europe was heard traded at $323/t CFR, with a few deals reportedly concluded near this level. Bids were mostly seen between $320-325/t at Mundra, ICD, and Mandi, while shredded offers hovered around $350-350/t CFR.
Weak sentiment persisted as falling sponge iron prices and ample local scrap availability curbed imports. Brazilian HMS was indicated at $320/t CFR Mundra/Nhava Sheva, and African HMS 80:20 at $335/t CFR. Buyers stayed cautious, quoting near no-profit levels amid subdued finished steel demand and uncertain market direction.
Pakistan: Imported scrap prices stayed stable, with HMS from Dubai heard at $335-340/t CNF Port Qasim and HMS sheared around $345/t. Despite oversupply in the UAE domestic market, export offers held steady, with shredded and PNS-HMS mix scrap quoted at $360-365/t and $340-345/t CFR Qasim. Market sentiment turned slightly positive, with expectations of a mild price rebound in the near term.
Bangladesh: The imported scrap market remained sluggish as mills avoided fresh bookings amid persistent liquidity issues and slow steel sales. Shredded scrap from Australia and New Zealand was offered in the range of $365-370/t CFR Chattogram, while buyers resisted higher prices, maintaining bids below $360/t.
Turkiye: Deep-sea imported scrap market edged up amid tightening supply and limited offers, as winter slowed collection in Europe and the US. Freight rates at $44-46/t and steady collection costs supported firmer prices. EU-origin HMS 80:20 was traded at $348-350/t CFR, while US recyclers held firm above $355/t CFR.
Price assessments (d-o-d)
- India: UK-origin shredded prices were stable at $351/t CFR Nhava Sheva compared to previous day.
- Pakistan: UK-origin shredded prices stable at $356/t CFR Qasim, compared to previous day.
- Bangladesh: UK-origin shredded prices rose by $1/t d-o-d to $365/t CFR.
- Turkiye: US-origin HMS 80:20 bulk prices were at $352/t CFR Turkiye, up $1/t d-o-d.
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