- India: UK shredded scrap shortage boosts offers
- Turkiye: Tight billet supply supports market sentiment
Imported scrap markets remained firm across South Asia on 10 September, with cautious buying in India and Pakistan, active bookings in Bangladesh, and stable Turkish prices supported by healthy demand and tightening billet availability.
India: India’s imported containerised scrap market remained firm d-o-d, although buying activity slowed amid limited finished steel sales and subdued mill inquiries. HMS 80:20 offers were heard at $385/t for African casting mix and 1% impurities, while US-origin material was offered at $370-372/t. A Honduras-origin bundles cargo was also booked at $345/t CFR Chennai.
The shredded market remained particularly tight, with UK-origin offers at $430-435/t against bids of $415-420/t. Limited availability has supported higher prices, with UK shredded potentially reaching around $450/t in the near term. However, elevated prices continued to restrict fresh imports, while US bulk HMS 80:20 at $390-393/t remained unviable for major mills.
Pakistan: Imported scrap market remained firm, with UK-origin shredded scrap reportedly booked at $418/t CFR Qasim. Current asking prices were around $420/t, while some sellers were targeting $425/t, with shredded scrap offers heard at $425/t CFR Qasim.
Bangladesh: Scrap market maintained its firm tone, supported by recent transactions and limited availability. Australian/New Zealand shredded scrap changed hands at $400-410/t CFR Chattogram, while HMS 90:10 was booked at $385-390/t. A Philippines PNS cargo was also reported at $378/t CFR, with current Australian shredded and HMS offers at $390-400/t and $360-365/t, respectively.
Turkiye: Deep-sea imported scrap market remained stable on 10 September amid muted trading, while bullish sentiment was supported by healthy demand and tightening billet availability. US recyclers targeted around $385/t CFR, with Sims selling HMS 80:20 to Ekinciler at $390/t CFR.
Danish-origin HMS from Turkiye was booked by Yeşilyurt at $382/t CFR, while a HMS 85:15 to Turkiye at $382.5/t. Buyers remained cautious due to price volatility, although dwindling billet supplies from Iran and the Black Sea could support further scrap gains.
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