- India: Vishwakarma Puja limits market activity
- Turkiye: Rebar strength supports higher scrap buying
South Asia imported scrap markets remained firm on 17 September, with India and Pakistan seeing limited buying, Bangladesh facing a wide bid-offer gap, while Turkiye strengthened sharply as scrap prices moved towards $400/t.
India: Imported scrap market remained firm d-o-d, although trading activity was muted on September 17 due to Vishwakarma Puja. CFR Nhava Sheva/Mundra offers were assessed at $360-370/t for HMS 80:20 grab, $375-385/t for hand-loaded HMS 80:20/90:10 and $405-410/t for shredded scrap. UK-origin turnings were reportedly sold at $345/t CFR Mundra for 500 t.
South African HMS 80:20 was reportedly booked at $380/t CFR Mundra. Market activity remained limited, with buyers showing selective interest at prevailing levels. Meanwhile, Bangladesh is increasingly focusing on shorter-transit origins, as longer-transit cargoes are facing less attractive price economics.
Additionaly, DGFT’s Trade Notice dated 16 September 2026 provides PSIAs a one-time seven-day window to clear pending PSICs for inspections conducted before 25 August 2026, while revising the regular issuance timeline to within two days of inspection. PSICs must also be uploaded from the same geographical location or country where the inspection was conducted, with all other provisions unchanged.
Pakistan: Imported scrap market remained firm, with shredded scrap prices holding at $417-418/t CFR Qasim and some offers heard at $420/t. Trading remained limited at these levels, with only a few deals reported. Prices are expected to remain broadly rangebound within this range through September, while market participants anticipate an increase in October. EU-origin shredded scrap was reportedly sold at $419/t CFR Qasim.
Bangladesh: Imported scrap market remained firm at elevated levels, with buyers and sellers yet to reach workable levels. Singapore-origin PNS was offered at $420/t CFR Chattogram against bids around $410/t, while Malaysian HMS 90:10 was offered at $390-395/t against bids of $380-385/t. A Latin American high-grade HMS 1 cargo was booked at $375/t CFR Chattogram.
Turkiye: Deep-sea imported scrap market strengthened sharply d-o-d on 17 September, with US and Baltic-origin HMS 80:20 offers moving towards $400/t CFR. Rising Turkish rebar export offers at $630-640/t FOB improved mill margins and supported higher scrap buying, while firm import replacement costs encouraged suppliers to raise offers.
Domestic scrap prices also increased by TRY 200-500/t ($4-10/t) across three mills, reinforcing the upward market trend. However, mills remained reluctant to accept US scrap offers at $405-410/t CFR, keeping buying resistance at higher levels. Market participants expect US HMS 80:20 to reach around $400/t CFR or higher, depending on energy costs.
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