The South Asian imported scrap market saw an improvement in its trade activities after the latest round of deal concluded by Turkiye. Pakistan has started procuring overseas material. “Imported scrap is more feasible than domestic material but buyers are facing difficulties while opening LCs with banks,” stated a source based in Pakistan. However, a couple of deals were concluded at slightly higher prices.
Interestingly after a long gap, Bangladesh also booked a few lots of imported scrap.
Recent trades
- Around 2,000 t, shredded scrap of Europe-origin was traded at $435-440/t CFR Chittagong.
- Around 2,000 t shredded scrap of Europe-origin was traded at $412-417/t CFR Qasim.
- A total of 1,000 t of shredded scrap deals were concluded at $415/t CFR Nhava Sheva.
SteelMint’s price assessment
- Europe-origin shredded scrap offers into India were at $415/t CFR Nhava Sheva, unchanged d-o-d.
- UK-origin shredded prices ranged between $435-440/t CFR Chittagong, down $7/t from yesterday.
- UK-origin shredded scrap prices were at $410-415/t CFR Qasim, an increase of $7/t d-o-d.
.jpg)
Leave a Reply