Import prices of containerised ferrous scrap in South Asian countries continued their downtrend owing to dull sentiments in the key market Turkiye. Finished steel sales and demand remained subdued which resulted in limited buying of imported scrap, sources said.
Interestingly, South Asian market is less active ahead of winter season this year compared to the same period last year.
Recent deals
- Around 1,000 t of Europe-origin shredded scrap was traded at $460/t, CFR Nhava Sheva.
- Another 250 t of Brazil HMS was sold to Mundra at $460/t CFR, while 1,000 t of Yemen HMS was sold to Ludhiana at $445/t CFR basis.
Price assessment
- UK-origin shredded scrap prices were at $455-460/t CFR Qasim, falling by $5/t against last week.
- Europe-origin shredded scrap offers in India stood at $455-460/t CFR Nhava Sheva, unchanged compared to the last week’s closing.
- Shredded scrap prices were at $500/t CFR Chittagong, unchanged.
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