South Asia: Imported scrap market shows mixed trends, prices unlikely to fall further

South Asia’s imported scrap market showed mixed trends today. Bangladesh’s imported scrap prices went up after remaining stable for almost a week. Pakistani mills concluded some deals and it is unlikely that prices will fall further. India’s imported scrap market remained largely stable.

• Around 3,000 t of UK-origin shredded scrap was booked at $505-510/t CFR Pakistan. Offers are unchanged at $510/t CFR Qasim levels.
• Around 250 t of HMS (80:20) of West-Africa-origin was traded at $450/t CFR Nhava Sheva. SteelMint’s India assessment for HMS-1 scrap of Dubai-origin is at $470/t CFR Nhava Sheva, unchanged d-o-d.
• SteelMint’s assessment for UK-origin shredded scrap stands at $535/t CFR Bangladesh, up $2/t d-o-d.