- Bangladesh: Monsoon and ample inventories weighed on imports
- Turkiye: Tight supply kept deep-sea scrap prices stable after rise
South Asian imported ferrous scrap markets remained mixed on 29 July, with subdued buying in India and Bangladesh due to cautious demand and ample inventories, while Pakistan maintained firm prices on tight containerised scrap availability. Türkiye’s market remained stable, supported by constrained supply despite limited trading activity.
India: Imported ferrous scrap trading in India remained subdued on 29 July as buyers stayed cautious despite slightly positive sentiment in the domestic market. Speculative buying in the TMT segment and stock replenishment by re-rollers supported local scrap prices, encouraging mills to prioritise domestic procurement over imports.
A wide bid-offer gap continued to limit fresh import bookings, while tight global scrap availability kept overseas offers firm. Europe-origin HMS 80:20 was offered at around $340/t CFR against buyer indications of $315-320/t CFR. Meanwhile, a 500 t Costa Rica-origin NTP cargo was booked at $367/t CFR Chennai, while 1,000 t of Costa Rica-origin HMS 60:40 was concluded at $300/t CFR Chennai.
Pakistan: Imported ferrous scrap prices in Pakistan remained firm as limited containerised scrap availability kept suppliers away from the Indian market, where higher realizations were available. UK-origin shredded scrap was heard traded at $418-419/t CFR Port Qasim on 279July, following an earlier deal at $405/t CFR, reflecting sustained buying interest despite elevated price levels.
Bangladesh: Imported ferrous scrap trading activity in Bangladesh remained subdued as monsoon-related weakness and ample raw material inventories kept mills away from the spot market. Buyers reported sufficient scrap stocks for the next few months, limiting fresh import demand despite stable price indications, with HMS 80:20 at $370/t CFR, shredded scrap at $400-405/t CFR, H2 at $380-385/t CFR and bulk HMS at around $400/t CFR.
Turkiye: Turkish imported deep-sea ferrous scrap prices remained firm on 29 July, although trading activity was limited as mills paused fresh bookings after active purchases over the past week. Workable levels for HMS 80:20 were reported at around $380/t CFR, with buyers reluctant to accept higher prices.
No fresh deep-sea deals were reported during the day as weak finished long steel demand kept mills cautious. However, tight scrap availability continued to support sellers’ offers, preventing any downward movement in import prices.
Leave a Reply