Following the Turkish market, the South Asian imported scrap market continued the downtrend. Currently, the market is more buyer-centric and sellers are resisting to revise prices further. The mills are booking hand to mouth and are preferring domestic material, except in India as the country seems to be facing a supply crunch.
SteelMint’s price assessment
- Europe-origin shredded scrap offers to India were at $430/t CFR Nhava Sheva, down marginally by $2/t d-o-d.
- UK-origin shredded scrap prices were at $425-430/t CFR Qasim, unchanged d-o-d.
- UK-origin shredded prices were unchanged at $460/t CFR Chittagong, unchanged d-o-d.
Leave a Reply