South Asia: Imported ferrous scrap trade subdued as market awaits fresh round of deals

South Asia’s imported scrap buyers remained inactive in booking fresh slots and are waiting for Turkiye’s next round of purchase for clear market directions. Meanwhile, in India, both sellers and buyers are in a wait-and-watch mode as bulk vessels will arrive soon which may slow down fresh bookings for sometime.

SteelMint’s price assessment

• UK-origin shredded scrap prices stand at $495-500/t CFR Qasim, down by $3/t compared to previous week.
• Shredded scrap prices are at $520/t CFR Chittagong, down by $5/t against last week’s closing.
• Europe-origin shredded scrap offers in India stand at $500/t CFR Nhava Sheva, unchanged.