South Asia’s imported ferrous scrap market remained bearish due to limited finished steel demand and construction activities on seasonal impact. However, Pakistan witnessed a few deals after prices corrected in the imported scrap market.
Recent trades
- Around 4,000 tonnes (t) of shredded scrap in containers of UK/Europe origin was traded at $490-455/t CFR Qasim.
- A total of 1,000 t of Dubai-origin HMS 1 (90:10) deals were concluded at $500/t CFR Nhava Sheva.
Price assessment
- UK-origin shredded scrap prices stand at $490-495/t CFR Qasim, down by around $5/t compared to yesterday.
- Shredded scrap prices are at $510-515/t CFR Chittagong, down by $7/t d-o-d.
- Europe-origin shredded scrap offers in India stand at $490-495/t CFR Nhava Sheva, a decline of $5/t d-o-d.
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