The South Asian imported scrap market remained muted today. However, a few deals, particularly in India, might get concluded in the near term. Market participants are in a wait-and-watch mode, observing Turkiye’s market dynamics, and will begin fresh bookings once a clearer market direction emerges.
Similarly, Pakistan’s market sentiments remained dismal with low trade volumes and LC opening concerns kept the Bangladesh market under pressure.
Recent trades
- Around 1,000 tonnes (t) of shredded and PNS scrap of UK origin were traded at $443/t and $445/t CFR Chittagong.
- A bulk vessel from the US is expected to arrive in a couple of weeks with 32,000 t (HMS 80:20, shredded and bonus) at $415/t CFR Kandla.
SteelMint price assessment
- Europe-origin shredded scrap offers into India were at $420/t CFR Nhava Sheva.
- UK-origin shredded scrap prices were at $418/t CFR Qasim, a decline of $2/t d-o-d.
- UK-origin shredded prices were at $449/t CFR Chittagong, a decrease of $1/t d-o-d.
Leave a Reply