- Demand improves for containrised scrap in India
- Seasonal tightness supports Turkiye deep-sea scrap
Imported scrap markets across South Asia and Turkiye remained firm, supported by steady buying interest, tight supply, and higher finished steel prices in select regions. While India and Pakistan saw active demand and workable deals, trade in Bangladesh stayed subdued, and Turkiye’s scrap prices held stable amid seasonal tightness and weak downstream rebar demand.
India: Imported scrap demand in India remained firm, with buyers actively seeking cargoes amid healthy spot requirements. Customer price ideas were heard at $350-355/t CFR for shredded, $305-310/t CFR for turnings, and $360/t CFR for PNS. Deals included Hong Kong HMS bales at $338/t CFR Chennai and Chile-origin HMS 90:10 at $345-348/t CFR Mundra. Malaysia-origin NTP bales were indicated at $366/t CFR Chennai, with buyers at $363 and sellers at $366-368. Overall demand remained good, with transactions expected soon.
Pakistan: The imported scrap market in Pakistan saw workable price indications from the UK/EU, with shredded scrap assessed at $372-374/t CFR. Meanwhile, UAE-origin offers were heard at $360/t CFR for HMS 80:20 and $375/t CFR for shredded. In addition, a Bahrain-origin cargo of shredded scrap was concluded at $372/t CFR Qasim, reflecting steady buying interest at current levels.
Bangladesh: Offers from Australia and New Zealand were heard at $365-370/t CFR Chattogram for shredded scrap and $340-345/t CFR for HMS. No major bulk offers from the Far East or the US were reported in recent sessions, keeping overall market activity subdued.
Bangladesh’s scrap imports rose by around 3-4% y-o-y in CY’25, supported mainly by shorter-voyage material from Japan and other East Asian origins. In the domestic market, non-brand 500W rebar prices increased by up to BDT 2,000/t ($16/t), though participants noted that the uptick reflects only a modest improvement, with broader demand recovery still awaited.
Turkiye: Deep-sea import scrap prices into Turkiye stayed firm as sell-side optimism and tight seasonal supply supported values. HMS 80:20 was assessed at $376/t CFR, unchanged d-o-d but $3/t higher w-o-w, with tradable levels reported at $375-377/t CFR for US-origin material and $370-371/t CFR for EU-origin scrap. However, concerns over muted downstream rebar demand continued to cap further upside.
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